Braemar Property Values: May-June 2016 (NV Homes)
Another summer day in Braemar meant another hot and humid day for folks to enjoy the pools, or kids to chase Pokemon on their cell phones. Though 2:00am last night/this morning seemed to be prime time for Pokemon catching on Tartan Hills Parkway. Two young teens, maybe even tweens, standing in the middle of the road. Are Pokemon really that important? I suppose they are important enough to be out at 2:30am.
What's important to me is getting Braemar homes sold for my sellers and finding great homes for my Braemar buyers. Right now, my job means putting out this edition of the Braemar Property Value Report that goes over sales of NV Homes between the months of May and June. So let's get to it.
There were four NV Homes that sold between the beginning of May and end of June. The high sold price was $572,000. The low sold price, repeated twice this reporting period, was $485,000. The average of all the sold prices gives us our new average market value for NV Homes in Braemar of $518,000. That's just under a 7% decrease in average market value since last report, but less than 1/2 of 1% drop in average market value from this time last year. The monthly drop shouldn't be overly concerning since two of those NV Homes that sold had unfinished basements and one had only a partially finished basement. It's fair to say that most NV Homes that sell in the neighborhood, or at least last report, have finished basements.
If you placed your NV Home on the market, priced to current conditions, you could expect it to be under contract in just under one month. You could also expect to pay an average of about 1.5% of the sales price in closing cost assistance.
The next Braemar Property Value Report will be out in September and will detail sales from the months of July and August. In the meantime, when you want to sell your NV Home, give me a call for a free market analysis of your home's specific value. No One Knows Braemar Better!
Statistics compiled using the MRIS (Metropolitan Regional Information Systems.)