Braemar Property Value Report: May-June 2017 (Arista Series)
As I sit here, about to type the most recent Braemar Property Value Report, I realize
that I completely missed Casino Night at the Braemar Clubhouse last night. If you went, I would love to hear about, so feel free to share in the comments below.
This edition of the Braemar Property Value Report is focused on activity in the months of May and June for Arista Series homes in our neighborhood. Arista Series homes are the large, single family homes built by Brookfield Homes. The floor plans include the Allister, Buckingham and Canterbury.
It is not at all unusual for this to happen, but during our last two month reporting period, there were no sales of any Arista homes in our neighborhood. That’s okay, because with our new and improved reporting stats, we still have rolling six month and twelve month data to give us an idea what’s happening to the value of Arista homes in Braemar.
The six month average and median sold prices being the same, are higher than the twelve month average and median sold prices. That could still be an indication that Arista home values are inching up. The seller subsidy only seems to have decreased when comparing the six month median to the twelve month median. That could be a good thing, but we need to see more sales to see if that is truly a downward trend. The marketing time is a much improved number in the six month values vs. both twelve month average and median marketing times.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect it to be under contract in two to three weeks. A word of caution though, we are into the slower summer months of July and August. Popular times for summer vacations usually equate to longer marketing times. In terms of closing cost assistance, it appears that on average you could expect to pay a little more than 1% of the sales price in seller subsidy.
The next Braemar Property Value Report will be out in late September. Until then, if you want to know how the current market conditions are affecting your specific home’s value, don’t hesitate to call me at 703-402-0037. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®, Manassas VA