Braemar Property Value Report: September-October 2021 (NV Homes)
The turkey and traditional sides induced over-full state has subsided and it is back to work for this Braemar Real Estate Agent. Back to work means actually doing the research and producing this Braemar Property Value Report focused on properties built by NV Homes in our neighborhood. That’s right, I don’t cut and paste reports for you. I run the sales, crunch the numbers and give you my analysis. That is why my wealth of knowledge of our Braemar real estate market is unparalleled. I do the work to understand our market.
In the months of September and October, there was only one NV home that sold. The details of that sale are listed below:
Having only one sale for the current reporting period doesn’t mean that we don’t have updated six and twelve month data points. This sale gets tossed in with the previous sales of NV homes for the previous year and the sales from September and October last year are dropped. The updated six and twelve month data points used in this report are then updated as seen below:
Starting with the sold price column there are healthy increases in both six month values compared to their respective twelve month values. NV homes are continuing to increase in value. And unlike what I have seen with other home types this reporting period, NV homes have lost only one half of one percent in the average six month growth rate compared to last report. They have lost no ground in median six month growth rate.
When we get to the seller subsidy column, we get to see how much closing cost help Braemar buyers were able to negotiate from their NV home sellers. The answer is nothing more than they had before. The most recent sale gave no seller subsidy. And with the six month average seller subsidy decreasing compared to the twelve month average, it seems more and more sellers are giving nothing, bringing that average number down. The six and twelve month median values being at zero means more than half of NV home sellers in both time periods gave no closing cost help. This is the mark of buyer competition being strong for these homes.
Days on market has come down in both six month values compared to their respective twelve month values. This is also contrary to what I have found in preparing other Braemar Property Value Reports for the same time period. The most recent sale going under contract in only four days is fantastic.
If you placed your Braemar NV home on the market, priced to current conditions, you could expect it to be under contract in a week or less. You could also expect to give very little, if anything in closing cost help. And based on trends I am seeing in the market, there is a shift away from the all-out buyer frenzy in our real estate market. Buyers are more likely to ask for home inspections and not waive appraisal. That doesn’t mean we are entering a buyer’s market. Supply is still not keeping up with demand. Buyers are not as many in number and not feeling the need to give away every possible contingency to get under contract.
The next Braemar Property Value Report will be out in January. Until then, I wish you all the best this holiday season. Of course, if the need arises to sell your Braemar home, I am here for you no matter the season. Creating buyer enthusiasm and maintaining it throughout the transaction is what makes keeps my sellers at the max the market will allow. My knowledge of our community is what gets my Braemar sellers the advantage over their competition. Feel free to reach out any time of year for a no obligation consultation. It is my pleasure to serve my neighbors. Since 2005, No One Knows Braemar Better!