If you’re looking for Bonnie Brae homes for sale, this market analysis will give you a better idea of what homes are going for in this subdivision.
I recently took some clients home shopping in the Bonnie Brae subdivision and decided to make sales activity here the focus of this blog post. For those of you who don’t know, Bonnie Brae is a beautiful subdivision of just over 300 contemporary single family homes, located between Fairfax City and Burke, close to George Mason University. It’s far enough west that you can get a lot of home for the money, but far enough east that you’re still in fairly close proximity to Washington, D.C. Bonnie Brae homes are close to a variety of transportation routes.
See all Bonnie Brae Homes for Sale
Currently, there are two Bonnie Brae homes on the market – a 3 bedroom, 2 ½ bath property priced at $529,888 and a 5 bedroom, 2 ½ bath property priced at $539,888. This analysis will focus on recent sales of Bonnie Brae homes that are comparable to the 5 bedroom property that is currently listed.
Here are the sales of Bonnie Brae homes from the last six months that are most comparable to the 5 bedroom property that is on the market:
- 10401 Hollyoak Pl. - closed at $508,000 with no seller subsidy in September 2013. It has the least upgrades of the other recent home sales in Bonnie Brae, and also has fewer upgrades than the 5 bedroom home that’s currently listed.
- 5322 Sideburn Rd. closed at $550,000 with a $5,400 seller subsidy on January 8th, 2014. It showed pretty well, but didn’t have a ton of upgrades.
- 5347 Black Oak closed at $640,000 in August 2013. This showed better than the other two comparable sales and is closest to the 5 bedroom property that’s currently on the market in terms of square footage.
It’s interesting to note that the 5 bedroom Bonnie Brae home that is currently on the market is significantly bigger than all three of these comparable sales, and it’s got a good number of upgrades. However, it’s probably a little overpriced, which is compounded by the fact that it’s on a busy street corner – this is a point of hesitation for some buyers. It’s been on the market for a total of 60 days, which is past the average number of days on the market for this area, which was 53 days (according to the most recent December data). Even in the less active winter months, inventory is still very low in Fairfax, and well-priced properties usually sell in the first few weeks. I think it’s probably worth around $520,000. It’s a great home and I think it will be snatched up by someone soon, but at the right price.
If you’re in the market for a home in Bonnie Brae, give me a call on my cell phone at 703-462-0700 – I’d love to help you out in your home search. My buyer agent services are always free.
If you own a Bonnie Brae home and are curious about how much it’s worth, call me for a hassle free, over-the-phone comparative market analysis.