Braemar Property Value Report: March-April 2021 (NV Homes)
Another gorgeous spring day in Braemar and the sound of a lawn mower is my background noise. Doesn’t bother me a bit. The sun is shining and the weather is warming up. The real estate market has been warm for some time. In fact, it is down right hot. Sellers could not be in a better position and in this edition of the Braemar Property Value Report, focused on the NV Homes resale market, you will see exactly what I mean.
During the current reporting period of March and April, there were four resales of NV homes in Braemar. The details of each of those four sales is listed below:
All but three of these homes sold well above their list prices. Only one took a week to go under contract at longest. None gave closing cost help. This is what the Braemar seller’s market looks like. Taking these sales and combining them with the entire past twelve months of NV home sales in Braemar, we see exactly how far home values have come in six months when comparing the six month data points to the twelve month data points.
The sold price column is the natural place to start. Here we see that the six month average and six month median sold prices are WAY higher than the twelve month average and median. NV homes in Braemar are eight to nine percent higher than they were a year ago. That’s substantial.
Seller subsidy is what is also known as closing cost assistance sellers give to buyers as part of the transaction. Honestly, this is the first report I have done in the March/April 2021 series were the six month average shows a value other than zero. Evidently, one NV home sale in the last six months gave a large amount of closing cost help. And looking back at the fourteen sales that make up the twelve months of NV homes data, only two gave seller subsidy at all. Zero is new norm as buyers face fierce competition when bidding on homes.
The days on market column shows the six month average marketing time two days shorter than the twelve month average. The six month median marketing time is three days shorter than the twelve month median. NV homes in Braemar have been selling faster more recently.
If you placed your NV home on the market, priced to current conditions in our Braemar marketplace, you could expect it to be under contract in less than a week. You could also expect to give nothing in seller subsidy as buyers compete to win in multiple offer scenarios. Those same buyers may even waive contingencies like home inspection, radon inspection, financing and appraisal.
The next Braemar Property Value Report will be out in July. Until then, if the need or want to sell arises know that even in a seller’s market, preparation and marketing matter. They create the buyer enthusiasm needed to lift your sales price higher than your competition. Creating buyer enthusiasm with a well prepared and professionally marketed listing is my specialty. Since 2005, No One Knows Braemar Better!