Braemar Property Value Report: November-December 2017 (Arista Series)
We made it past the holidays in Braemar. Perhaps the most inconvenient part of the 2017 Christmas and New Year’s Day holidays were that they both occurred on our regularly scheduled recycling pick up day. While our disposal companies all schedule alternate days to pick up the recycle, word getting out about it was not great.
Now that we are past the end of 2017, I can fill you in on what’s been happening with values in the Arista Series homes during this Braemar Property Value Report. Arista Series homes are the large, single family homes built by Brookfield Homes. Floor plans include the Allister, Buckingham and Canterbury.
There was one sale of an Arista home in Braemar during the months of November and December. Details are as follows:
When we take this sale and put it in with our rolling six and twelve month values, what we find is that shorter term sold values (six month) are lower than the longer term sold values (twelve month.) This could indicate that values for these larger homes are slipping, but it will certainly take more activity in the market to truly make that determination. Meanwhile, seller subsidy and marketing time (DOM) are also heading in the wrong direction in the short term. More recent Arista home sales are taking longer and sellers are giving more closing cost help.
If you placed your Allister, Buckingham or Canterbury on the market, priced to current conditions, it may take more than a month and a half to go under contract. You could also expect to pay an average of over 2% of the sales price in closing cost help to your buyer.
The next Braemar Property Value Report will be out in March. Until then, know that our Braemar real estate market is hungry for homes. If you have been wondering what your home may be worth, let’s set up a time to meet. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®