Braemar Property Value Report: September-October 2021 (Arista Series)
November is flying by. Thanksgiving is rapidly approaching and I have some property value reports to publish. Today I bring you the Braemar Property Value Report for Arista Series homes in our neighborhood. Arista homes are the largest single familiy homes built by Brookfield Homes in Braemar and include the Allister, Buckingham and Canterbury models.
During the current reporting period of September and October 2021, there were four Braemar Arista homes that sold. The details of those sales are listed below:
Taking this information and combining it with the entire past twelve months of Arista home sales, the six and twelve month data points tracked in this Braemar Property Value Report are updated, as seen below.
Starting with the sold price column, it is great to see higher numbers in both six month values compared to their respective twelve month values. This means values for Braemar Arista homes are continuing to increase. Furthermore, the growth rate in six months this report is a tad higher than the growth rate from last report. This is great news.
Making it to the seller subsidy column, it is a sign of change in the marketplace that we even have anything to report. Seller subsidy, as you may already know, is closing cost assistance to the buyer from seller. In the first half of 2021, seller subsidy requests from buyers were non-starters if they wanted their offers accepted. In the four sales listed above for September and October, it is shocking to see three out of four sales gave seller subsidy at all. That’s why we have a six and twelve month average seller subsidy number. Obviously, the bigger deal is that majority of more recent Arista home sales have had a seller subsidy component. Buyer demand definitely cooled a bit since July and August, but this may show us a bit more cooling in the higher price ranges than I had realized.
Finally, the days on market column shows longer marketing times in both six month values compared to their respective twelve month values. That means that in the last six months, Arista homes have been taking longer to sell. Another indicator of a changing market. The good news is that most of the four most recent sales sold in eleven days or less. However, one home took forty-six days to sell. That one sale had been listed with a different agent for over forty days with poor marketing. The second listing agent got the job done quickly after professional photos and marketing.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect your home to be under contract in under two weeks. You could also expect to pay some seller subsidy since the buyer frenzy has cooled off.
The next Braemar Property Value Report will be out in January. Until then, when the time comes to sell your home, get in touch with me to find out how I can create the buyer enthusiasm that will lift your property to its absolute max profit. Professional marketing combined with local expertise is what my Braemar sellers have been enjoying for years. Since 2005, No One Knows Braemar Better!