It's that time again; time for another Braemar Property Value Report. This is where I tabulate the past two months of home sales in Braemar and report the average sales price, a.k.a. average market value. This particular report covers the Heritage Series homes. What's a Heritage series home? That's easy.
A Heritage Series home is one of the mid-size single family homes with attached garages, built by Brookfield Homes. They come in four models: Exeter, Zachary, Yardley and Waverly. Yardleys are by far the most commonly seen of the Heritage Series.
The past two months saw five resales in the Heritage Series. Not surprisingly, four of the five homes sold were Yardleys. The average of all their sales prices brings the May-June 2010 average sales price to $384,580. That's over a 3% increase since last report. Unfortunately, when compared to May-June 2009, there is over a 10% decline in average sales price.
This Braemar Property Value Report can further help home owners with this type of home set expectations when selling. What this report tells us is that if a Heritage Series home was placed on the market, and priced to current market conditions, the Seller could expect to have a contract in less than three weeks time. The Seller of that home could also expect a request to pay an average of less than 1% of the sales price is closing cost assistance to the Buyer.
The next Braemar Property Value Report will be out in September. Until then, I hope you take full advantage of Braemar's two pools to cool you off during the rest of the summer. And if you are interested in looking at average sale prices dating back to May/June 2005, visit my website: www.nvarealestate.net. Click the link on the left for Braemar Property Value Report Online and scroll down until you see the heading Heritage Series.
If you'd like to put your Yardley, Waverly, Zachery or Exeter home on the market, or are looking to buy one, give me a call. No one knows Braemar better!
Chris Ann Cleland, Realtor, Licensed in VA, Long & Foster