Braemar Property Value Report: March-April 2022 (Arista Series)
CORRECTION AS OF MAY 14, 2022
The market report below was published with an error. The six month values are actually eight months worth of data. Updated information in the graph below.
While the updated six month value is based only on one sale, there is no concern with value. Only with seller subsidy making a come back and marketing time increasing.
Welcome to another Braemar Property Value Report, focusing on sales of Arista Series homes in the neighborhood. Those included the Allister, Buckingham and Canterbury floor plans. Last time I was typing up one of these reports, I was anxious for spring to get here. Well, it has arrived and with it, plenty of moisture. No doubt our lawns, trees and flowers are loving it.
During the months of March and April, which constitute the current reporting period for our report, there were no Arista homes that sold in our neighborhood. However, when our six and twelve month data points are updated, we get a fresh set of market markers to go over. Those are seen below.
Starting with the sold price column, we see the six month average sold price is just slightly above the twelve month average sold price. Meanwhile, the six and twelve month median values are identical. Rising mortgage rates appear to be tempering the growth of home prices, but certainly not dampening buyer demand.
Seller subsidy (closing cost help to buyers) doesn’t show much of a change since last report. The twelve month average seller subsidy is slightly higher than it was last time. That just tells me we lost a sale or two with no seller subsidy when we shifted the data set forward two months. Looks like seller subsidy is making a come back.
Days on market shows much the same trend as it did last report as well. Both six month marketing times are longer than their respective twelve month times. We will see next report if this trend, and others, continue.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in a week or two. You could also expect that buyers may ask for some closing cost help.
The next Braemar Property Value Report will be out in July. Until then, when the time comes to sell your Braemar home, I would be happy to consult with you. Proper listing preparation and professional marketing have always meant more money to a seller’s bottom line, no matter the market. As ours begins to shift with rising interest rates, creating buyer enthusiasm is more important than ever. Showing you my marketing process to achieve those top of market results is my pleasure. Since 2005, No One Knows Braemar Better!