Braemar Property Value Report: January-February 2022 (Arista Series)
We are into the third month of 2022 and the market is definitely feeling different than when I left you in January with the wrap up from 2021. In this edition of the Braemar Property Value Report, we will look back at the months of January and February and see what happened with the Arista homes in our neighborhood. These homes were the largest built by Brookfield Homes and include the following floor plans: Allister, Buckingham and Canterbury.
During the first two months of the New Year, only one Arista home sold. It was a three level Canterbury that listed and sold for $799,000. More details on that sale are listed below:
Taking this sale and combining it with the entire past twelve months of Arista home sales in Braemar we get the most reliable data in our six and twelve month data points. These show us how the short term compares to the long term. Let’s take a look.
Starting with the sold price column we see that both the six month average and six month median sold prices are higher than their respective twelve month values. This is a good sign and means Arista homes in Braemar are continuing to push up in value.
Seller subsidy, also known as closing cost help from seller to buyer, has unfortunately gone up in both six month values compared to their respective twelve month values. The only thins redeeming here is that the most recent sale, though it only sold for list price and took three weeks to get an offer, gave nothing. Perhaps we will see better news in the next report.
Days on market reveals lengthening time frames to go under contract when looking at the six month values compared to their corresponding twelve month values. Sad to see that the most recent sale took even longer. Given what I am personally experiencing in the market at the moment, I think we have woken from the second half slumber of 2021 and buyers are ready to buy. Unfortunately, too few sellers are selling, which makes our buyer demand so crazy.
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 max. You could also expect to see minimal closing cost help requests, but given demand, you may see none. Time will tell on this one. Buyers right now are back to the position of having to waive every conceivable contingency just to get their offers accepted.
The next Braemar Property Value Report will be out in May. Until then, if you want to investigate the possibility of a 2022 sale for your Braemar home, get in touch with me for a no obligation analysis. I am an agent that believes in doing all it takes to get you the max profit. Even in a seller’s market it matters. And you only get one chance to liquidate your largest asset. Who you hire matters. Since 2005, No One Knows Braemar Better!