Braemar Property Values: July-August 2012 (Arista Series)
It won't be long before the leaves are turning in Braemar. The air has cooled and the amount of daylight is decreasing each day. It's a nice change given the sweltering days we endured this summer. The local real estate market seems to have cooled as well. Let's take a look back at the Braemar Arista Series resale activity during the months of July and August. (Arista Series homes are the large single family homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.) We'll compare the activity to last report (May-June 2012) and last year (July-August 2011.)
Once again, there is only one sale of an Arista Series home to report, but that's better than none. The one that sold was a Canterbury with three finished levels, four bedrooms and four and a half bathrooms. It listed for $410,000 and sold for $412,000. Just like last report, with only one sale, we will use that number as our new average property value. This means over a 20% decrease in value since last report, and nearly a 9% decrease since last year.
If you placed your Allister, Buckingham or Canterbury home on the market, priced to current market conditions, you could expect it to be under contract in just over two weeks. You could also expect a buyer to ask for an average of nearly 2.5% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in November and will detail sales from the months of September and October. Until then, if you are thinking of selling your Braemar home, call me for a free market analysis of your specific home's value in today's market. 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.)