The Braemar Property Value Report for the Heritage Series homes, built by Brookfield, is compiled and ready to share! Resales, and one new home sale, were averaged over the months of May & June, and will now be compared with the prior months report of March & April, and the May & June report from 2007.
This report is for you if you live in, what I like to call, the Mama Bear single family homes in Braemar. These homes have a two car attached garage, and total square footage ranging from about 2500-3500 square feet. the floor plans include the ever popular Yardley (which seems to dominate the Mama Bear homes in Braemar), and the Exeter, Zachary and Waverly.
Are you ready for some GOOD NEWS? The average sales price for homes in the Heritage Series rose over $12,000 this report to $404,475. That's up from the prior report average at $391,983.
Before we get too excited, we must note that the average seller subsidy (closing cost assistance from sellers to buyers) was also up. It went from $6,208 last report to $11,825 this report. That brings the net increase from over $12,000 to an exact net increase of $6,875. Still....an increase in sales price is an increase in sales price. With only four homes sold, and one of those being new construction, the numbers may be skewed, but only time will tell.
Finally, this Braemar Property Value Report shows that average marketing time, or the time it takes to sell a home, nearly tripling. Average days on the market went from 38 in March & April, to 95 in this report.
Overall, when we look back one year, to May & June 2007, Heritage Series homes have lost 18% of their resale value. Consdering that in Prince William County, the average sale price of single family homes went down 33% from May 2007 to May 2008, a loss of 18% is above overall market average.
You can view historical average sales prices, compiled every two months since May & June 2005, by logging on my website: www.nvarealestate.net. Click the link for Braemar Property Value Report Online and scroll down to the Heritage Series. This is what you will see:
You can have a hard copy of the Braemar Property Value Report mailed to you every other month by emailing your request to: chrisann@longandfoster.
Of course, if you are thinking of selling your Braemar home, it pays to talk to someone that knows the market. I'd be happy to give you a free, customized market anaylsis of your home's value.
No one knows Braemar better!