Braemar Property Values: March-April 2013 (Arista Series)
Spring time hit Braemar and the surrounding Bristow area with what felt, and still feels, like buckets of rain. It is great for the lawns and other plants, but I would love to see some more sun. The cloudy and rainy days seem to be outnumbering the sunny ones. Of course, the weather, be it good or bad, really doesn't seem to ever affect the Braemar real estate market. In this report, we'll look back at March and April's sales activity for larger single family homes in Braemar known as the Arista Series. These include the Allister, Buckingham and Canterbury models built by Brookfield Homes.
There were two resales of Arista Series homes over the last two months. There were both Canterburys, which are the most popular home choice of the Arista Series in Braemar. The high sold price was $500,000 on a five bedroom, four and a half bathroom Canterbury. The low sold price was $451,000 on a four bedroom, three and a half bathroom Canterbury. The average of their sold prices gives us our new average market value in the Arista Series of $475,500. That is an increase of over 18.5% since last report, and not surprising since last report's sale was a very modest Allister and not representative of most Arista homes that are located in Braemar. And since there weren't any sales in March or April 2012, we have no year to year comparison.
If you placed your Allister, Buckingham or Canterbury model home at the market, priced to current market conditions, you could expect it to be under contract in an an average of just over three weeks. And since neither of the Canterburys that sold in March or April gave any closing cost help, it is safe to say that the buyer competition for the limited amount of homes for sale may amount to more and more sellers not giving any closing cost assistance.
The next Braemar Property Value Report will be out in July and will detail sales from May and June. Until then, if you are thinking of selling your Braemar home, call me for a free market analysis of your specific home's value. I've been a Braemar resident and full-time Bristow Real Estate Agent since 2005. I've also been a Short Sale Agent since 2007. I know our local market and how your home fits into it. No one knows Braemar better!
Chris Ann Cleland, Associate Broker-Licensed in VA, Long & Foster REALTORS®
Statistics compiled by Chris Ann Cleland, using the MRIS (Metropolitan Regional Information Systems.)
You can see the most recent property values in Braemar by clicking the links below:
Carriage Series (smaller single family homes with detached garages, Brookfield Homes)
Courtyard Series (executive style home, five to a private driveway, Brookfield Homes)
Heritage Series (mid-sized single family homes, Brookfield Homes)
Townhouse Report (traditional townhouses with small back yards)
Condo Quarterly (townhouse style condos)