Braemar Property Values: January-February 2012 (Heritage Series)
In the last couple months I have seens some fabulous Heritage Series homes come on the market in Braemar. This afternoon I had the opportunity to see one that was hands down the best done Yardley I have seen in a long time. I am sure it will be under contract in a matter of days and will make a great comparable for next report. For now, let's focus on sales from the first two months of the year in the Heritage Series. These are the mid-sized single family homes in Braemar, built by Brookfield, that include the following floor plans: Exeter, Yardley, Zachery and Waverly.
There were two Yardleys that sold in February. Their prices could not be any more different and obviously reflect the difference upgrades and condition can make in a home. The high sold price was $440,000. The low sold price was $340,000. They both offered the same amount of finished square footage, but varied in lot desirability, condition and upgrades. The average of these sales gives us our new average market value for Braemar Heritage Series homes of $390,000. That's over a 1.5% decrease since last report, but over an 18% increase since the first two months of 2011.
If you placed your Yardley, Zachery, Waverly or Exeter on the market and priced it current market conditions, you could expect it to be under contract in an average of two weeks. You could also expect a buyer to ask for an average of nearly 1.5% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in May and will detail sales from the months of March and April. Given the homes I'm seeing go under contract, I think we will see an nice increase in average market value next time. Until then, 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. I've also been a Short Sale Agent since 2007, so 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 Townhouse Report (no garage and garage townhouses)
Condo Quarterly (condos known as Barrhill at Inverness Village)