Braemar Property Values: September-October 2011 (Heritage Series)
The holiday season is getting underway in Braemar. Of course, with September and October behind us we can take a look back at the resale activity for those months in the Braemar Heritage Series homes. Heritage Series homes are mid-sized single family homes in Braemar, built by Brookfield, that include the following floor plans: Exeter, Yardley, Zachery and Waverly.
You may think that once Labor Day comes and goes that the real estate market in Braemar shuts down. Far from it. There were seven resales in the Heritage Series in the previous two months. Six of those were Yardley models, the other a Zachery. This means all of the homes sold the mid-sized of the mid-sized homes in Braemar.
The high sales price was $400,000; the low sales price $305,000. The average of all seven sales prices gives us our new average market value of $$354,014. That's over an 8% decrease in value since last report (July-August 2011.) Year over year is a different story. We've seen over a 1% increase since last year. That's stability and looking back to yearly drops near 30% in the last few years, I'll take a 1% increase any day.
This report also gives us some indication how long a home takes to sell, though with one home's marketing time at an unbelievable 431 days, it is certainly throwing off that the average marketing time of 86 days. Realistically, if you priced your Braemar Heritage Series home to market conditions, you could expect to be under contract in about a month. And you could expect a buyer to ask for an average of about 2.5% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in January and will reflect on the sales that happen in November and December. Until then, please call me if you are thinking of selling your Braemar home. I'd be happy to do a free market analysis of your particular Braemar home's worth in today's market. As a Braemar resident and full-time Bristow real estate agent since 2005, and a Short Sale Agent since 2007, I can help you sell no matter what your equity position. And remember, no one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in Virginia, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland using the MRIS (Metropolitan Regional Information System)
You can see the most recent property values in Braemar by clicking the links below:
Arista Series (large single family homes built by Brookfield Homes)
Carriage Series (smaller single family homes with detached garages, Brookfield Homes)
Courtyard Series (executive style homes, five to a private driveway, Brookfield Homes)
Braemar Townhouses (garage and no garage townhouses, not including patio homes)
Condo Quarterly (condos known as Barrhill at Inverness Village