Hard to believe that the Fall season is upon us. However, with the coming of Fall, we get a chance to look back at the resales of Braemar homes in the Hieirtage Series in the months of July and August. Looking at those sales will give us the most accurate idea of our current market values.
Before we begin, let me start with an explanation of what a Heritage Series home is. 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 months of July and August saw two resales in the Heritages Series homes. One a larger Waverly model, the other the smaller Exeter model. The average of their sales prices brings our average propety values to $360,000. that's a 6.4% decrease in average value since last report. The good news is that year to year, there is very little change. This shows our market has been stabilizing.
If you placed your Braemar Heritage Series home on the market today, and placed it to current market conditions, you could expect your home to be under contract in 30 days. You would also expect a buyer to ask for an average of about 2% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in November. Until then, you can change historical, average property values dating back to January 2005 by logging on to my website: www.nvarealestate.net. Simply click the link for the Braemar Property Value Report Online and scroll down to the Heritage Series.
If you've been thinking of selling your Braemar home, Fall is a great time. Our local market tends to see increased activity and an increase in sales prices. Spring isn't the only market for Sellers. So if you'd like to find out specifics on what to expect from putting your Yardley, Waverly, Exeter or Zachary model on the market, give me a call. No one knows Braemar better!
Chris Ann Cleland, Realtor, Licensed in VA, Long & Foster