Braemar Property Value Report: September-October 2019 (Arista Series)
There is no doubt that winter arrived early in Bristow. Snow flurries and freezing temps are here. Brrrr. I hope you have all winterized your hose bibs. If not, definitely make it a priority.
For now, my priority is bringing you this Braemar Property Value Report, detailing sales of homes in the Arista Series. Those are the largest series of homes in Braemar built by Brookfield Homes. The floor plans include the Allister, Buckingham and Canterbury. The most popular of these floor plans in Braemar is by far and away the Canterbury.
During the current reporting period of September and October, there was only one Arista home that sold. The details are listed below:
Even though there is only one sale, that doesn’t mean we can’t get an idea of value and other trends in the market. This report gives values in increments of six and twelve months based on the entirety of sales for the last twelve months. Those data points this report are listed below:
Looking first at sold price, it is outstanding to see that the sale of 9946 Broadsword sold for higher than our reported six month average and six month median sold prices. Furthermore, just the six month sold prices compared to their twelve month counterparts shows that the Arista home sales in the more recent past are higher. This means values are still pushing up.
Seller subsidy, unfortunately, is always pushing up in the six month values compared the twelve month values. Seller subsidy is closing cost help that sellers give buyers from their net proceeds at closing. This number moving up is not a shock given my first hand experience in the market place. Buyers have been asking for, and receiving, more closing cost help lately. If demand in our market wanes, this trend will continue. If demand increases, we could once again see seller subsidy decrease.
Days on market does show a positive trend. Both the six month average and six month median marketing times are below their respective twelve month values. This means that Arista homes in Braemar are selling in a shorter amount of time by a week or a so in the more recent sales.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect your home to be under contract in a little more than a month. You could also expect to pay 1% to 1.5% of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in January. Until then, there are still buyers out looking to be “home for the holidays.” If a need to move has arisen in your household, don’t hesitate to find out why waiting for spring may not be the only answer. I am here to help you any time of the year. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate