Braemar Property Value Report: January-February 2021 (Arista Series)
The new year in the Braemar real estate market was like flood gates opening. In this edition of the Braemar Property Value Report, detailing sales of the Arista Series homes, you will see for yourself what I mean. Braemar Arista homes include the Allister, Buckingham and Canterbury models by Brookfield Homes.
There were two Braemar Arista homes that closed in the first two months of the year. The sales prices are detailed below.
For starters, it is amazing to see both sold prices starting with a seven. It’s been a long time since that was common place. The flood of buyers is what has these two homes selling so high above their list prices. We are now in a market where buyers are waiving every conceivable contingency, including appraisal, just to secure a home. And the exercise of waiving appraisal is what makes our properties worth more money because these sales become comps for future sales.
Taking these sales and combining them with the entire past twelve months of Braemar Arista home sales, our six and twelve month data points are updated as seen below.
The sold price column shows incredible increases in the six month average and six month median above their respective twelve month values. Our market is experiencing a frenzy that is raising values very rapidly. Braemar home values are likely peaking this year.
Seller subsidy (closing cost assistance to buyers) is becoming extinct. You have to go to the twelve month average seller subsidy to even see a value higher than zero. In order to win in intense multiple offer situations, buyers are having to waive many things that used to be customary requests. Seller subsidy is one those.
Days on market is an unbelievable one day in both the six month average and median value. The highest value we have on this table is twelve days. Clearly, it is a remarkable time for sellers.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract very quickly after multiple offers. You could also expect to give nothing in seller subsidy. You are also likely to have buyers needing no contingencies at all.
The next Braemar Property Value Report will be out in May. Until then, if you want to make the absolute max the market has to offer, professional marketing and neighborhood knowledge is going to get you even higher prices. Get in touch with me for a no obligation consultation. Since 2005, No One Knows Braemar Better!