Braemar Property Value Report: March-April 2020 (Arista Series)
Despite the shut downs still in place with the COVID pandemic, the Bristow real estate market is hopping. Our home sellers and home buyers are lucky that our Governor considers real estate an essential business.
Right now, it is time for the Braemar Property Value Report that focuses on sales of Arista homes in our neighborhood. Arista homes are the large single family homes built by Brookfield Homes in our neighborhood and are one of three models: Arista, Buckingham or Canterbury.
There was one Arista home that sold during our current reporting period of March and April 2020. The details of that sale are listed below.
Taking this sale and combining it with the entire past twelve month’s of Arista home sales, our six and twelve month data points are updated as pictured below:
The great news, probably in large part to the outstanding sales price of $690,000 that our most recent sale pulled down, is that the six month average and median sold prices are well above the twelve month average and median sold prices. That means Braemar Arista homes are still gaining value.
Better news for Braemar home sellers looking to hit the market soon is that the six month average and median seller subsidy values are well below the twelve month average and median seller subsidy values. What does this mean? In the more recent sales, Braemar Arista home sellers have been giving less money in closing cost help to buyers.
Finally, another good trend is found in the days on market column. The six month average and median marketing times are shorter than the twelve month average and median marketing times. This means Braemar Arista homes have been selling faster recently.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in about two weeks. You could also expect to pay minimal amounts of closing cost help, if any.
If you know someone in the market for an outstanding Canterbury model in our neighborhood, check out 9725 Kinloss Mews, just listed for $610,000. You can call me for a tour if you don’t have your own buyer’s agent.
The next Braemar Property Value Report will be out in July. Until then, if you have been considering the sale of your Braemar home, give me a call. I can get the job done safely and for maximum profit. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate