We are on the edge of Spring in Braemar. And with January and February behind us, we can take a look back at the resale market for Braemar Heritage Series homes. Heritage Series homes are mid-sized single family homes, with attached two car garages and include in the following floor plans: Exeter, Yardley, Zachary and Waverly.
Last report (November-December 2010) there were no resales of any Heritage Series homes in Braemar. Well, we have one to report for the first two months of 2011. That sales was a Yardley with four bedrooms, three and a half bathrooms and a fully finished basement. It listed and sold for $330,000 and becomes our new average market value for mid-sized single family homes in Braemar. Unfortunately, that's over an 8% decrease when looking at values from this time last year.
This one sale can set certain expectations for Braemar home sellers with mid-sized homes. If priced to current market conditions, a Braemar Heritage Series home would likely be under contract in about one month after hitting the market. Sellers could also expect to pay an average of 1.5% of the sales price in closing cost assistance for the buyer.
The next Braemar Property Value Report will be out in May. Until then, you can always go to my website: www.nvarealestate.net to see historical average values dating back to mid-2005. Just click the link for the Braemar Property Value Report Online and scroll down until you see the Heritage Series.
Of course, if you are thinking of selling your Heritage Series home in Braemar, I'd be happy to put together a free, customized market analysis of your individual home's worth. Remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker, Licensed in Virginia, Long & Foster REALTORS®
Other Braemar Property Value posts for the period of January-February 2011:
Arista Series (large single family homes built by Brookfield Homes)
Carriage Series (smaller single family homes with detached garages, built by Brookfield Homes)
Courtyard Series (executive style homes, five to a private entrance, built by Brookfield Homes)