Braemar residents have most certainly blown the dust off their lawn mowers by mid-May. And with all the rain we've been seeing, I'm sure those mowers will be getting a work out. Yes, the grass is going to be growing at a great pace after soaking up all that water. Before we get too entrenched in our yard work or other chores, let's take a look back at the resale market for Braemar Heritage Series homes for the months of March and April.
In the event a bit confused about what Heritage Series homes in Braemar are...they are mid-sized single family homes, with attached two car garages and include in the following floor plans: Exeter, Yardley, Zachery and Waverly.
Last report (January-February 2011,) we saw only one resale. Well, we've doubled that this reporting period. There were two Yardleys that sold, one with a finished basement, the other without. The average of their sales prices gives us our new average market value for mid-sized single family homes in Braemar as $327,500. That's down a touch since last report by 0.8%. The comparision to this same time frame last year, we see a more significant drop of 12%.
If you placed your mid-sized Braemar single family home on the market, priced to current market conditions, you could expect your home to be under contract in about two months time. You could also expect a Buyer to request an average of about 2.6% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in July. 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. You can also check out my Braemar Blog for information specific to the community, real estate and otherwise.
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 March-April 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)
Townhouse Report (townhouses separated into garage and no garage categories)