Braemar Property Value Report: March-April 2021 (Carriage Series)
Spring has sprung in Braemar and our community is greening up. I always love seeing the trees, flowers and lawns come back to life after winter. You may not realize it, but the Bristow real estate market really doesn’t go dormant in winter. Buyer demand is still present then and was off the charts even during the holidays. It has only gotten more intense with the coming of spring. What inventory we do have coming on the market is not even close to meeting demand.
In this edition of the Braemar Property Value Report I am going to fill you in on what has happened in the Carriage home market. Braemar Carriage homes are characterized by the lack of an attached garage. When these homes have a garage, it is detached and sits in back of the home, accessed by a private driveway off of the street, or off of a shared alley in the back of the home. The floor plans, from smallest to largest, are: Maplewood, Norwood, Oakdale and Parkdale.
During our current reporting period of March and April, there were three Braemar Carriage homes that sold. The specifics of those sales are listed below:
The sold prices are getting up into the five-hundred thousands, which is uncharted territory for these homes. Sure, the builder sold them in the fives and during the top of the market you may have caught some selling just over five, but these sold prices keep going higher than we have previously seen.
Taking these three sales and combining them with the entire past twelve months of Braemar Carriage home sales, the six and twelve month data points are updated as seen below:
Starting with the sold price column we see that our six month average and six month median sold prices are much improved over their respective twelve month values. With this demand and limited inventory, sold prices are getting higher and higher, driving up values.
In the seller subsidy column we see how much closing cost assistance buyers were able to negotiate from their Braemar Carriage home sellers. Not surprisingly, both the six month seller subsidy figures are at zero. The only value not at zero in this column is the twelve month average seller subsidy with is below one-thousand dollars. Buyers are having to come in with no seller subsidy requests, and even having to drop inspection requests, just to get accepted in a multiple offer situation.
Days on market hasn’t changed much. The six month average is two days shorter than the twelve month average. The six month median and twelve month median are identical at five days. Braemar Carriage homes are always one of the hottest sellers in any market and have been selling quickly for a year or more now.
If you placed your Braemar Carriage home on the market, priced to current conditions, you could expect to be under contract in less than a week. You could also expect to have multiple offers with no seller subsidy requests. Some buyers are even waiving all contingencies, including inspections, appraisal and financing.
The next Braemar Property Value Report will be out in July. Until then, if the need or desire to sell your Braemar Carriage home arises, get in touch with me to find out how a well prepared and professionally marketed home still gets even more money in this seller’s market. Getting my Braemar sellers the absolute max the market will bear is my specialty. Since 2005, No One Knows Braemar Better!