Braemar Property Value Report: July-August 2018 (Arista Series)
It always makes me smile to see the leaves start to change into their brilliant fall wardrobe. The trees on the east side of Native Rocks Drive are always among the first to start going from green to gold. Of course, I have no idea what kind of trees those are because my specialty is not landscaping, but selling homes. As a top Braemar Real Estate Agent, it is one of my favorite jobs to periodically look at the most recent sales data and share it with you.
This particular Braemar Property Value Report covers sales of Arista Series homes in Braemar. Those are the largest homes built by Brookfield Homes and include the Allister, Buckingham and Canterbury floor plans.
Between the months of July and August, only one Braemar Arista home sold. It was a four level Canterbury with five bedrooms and five and a half bathrooms. It listed and sold for $599,900 and took only twenty-one days to sell. Details of the sale are listed below:
To get an updated account of how Arista homes in Braemar are doing overall, we take this sale and put into a rolling twelve month collection of previous Arista home sales. Then we parse that data out into six and twelve month markers. When we do that, here’s what we find:
What we want to see in a six month to twelve month comparison in values is increased sold prices in the six month values, and lower seller subsidy (closing cost assistance) and days on market (marketing time) in those six month values compared to the twelve month values.
Looking at sold prices for the Arista Series, the six month average and median sold prices are both above the twelve month average and median sold prices. That’s great news. Values for Arista homes are continuing to rise. However, the seller subsidy figures are higher in the six month average and median, compared to the twelve month average and median. That means sellers are giving more of their net proceeds to buyers as closing cost help. As for the marketing time, those numbers give us a mixed picture. The six month average days on market is higher than the twelve month average days on market, but only by five days. The six month median is twelve days shorter than the twelve month median. All in all, those variations show that it is taking about the same amount of time as it has been taking, to sell Braemar Arista homes.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in three weeks to two and a half months. You could also expect to spend 1.5% to 2% of the sales price in closing cost assistance to the buyer.
The next Braemar Property Value Report will be out in November. Until then,know that you can’t start to preparing to sell too early. When you are starting the thought process of moving, give me a call. Since 2005, No One Knows Braemar Better.
Associate Broker-Licensed in VA
Long & Foster REALTORS®