Braemar Property Value Report: July-August 2022 (Arista Series)
The season of pumpkin spice has arrived. As you drive through Braemar you can see the leaves are starting their autumnal transition. Ready or not, fall is here. In this edition of the Braemar Property Value Report the focus is on Arista Series homes in our neighborhood. Arista homes are the largest homes built by Brookfield Homes in our neighborhood and include the Allister, Buckingham and Canterbury floor plans.
During the last two months of summer, which are the slowest months of our real estate market, there were no Arista home sales to report. Not to worry. With an updated array of Arista home sales from September 2021 to August 2022, the six and twelve month data points are updated as seen below.
Starting with the sold price column, the trend of increasing Arista home values in Braemar is evident. Both six month values are higher than their respective twelve month values. News of values decreasing should not have you in a panic. It is not true.
When it comes to seller subsidy (closing cost help to buyers,) the numbers are increasing. This is not surprising given the fact that buyers are getting pinched with affordability issues with rising prices and rising interest rates. Still the six month median value is still at zero. That means more than half of Braemar Arista home sellers gave nothing in seller subsidy in that time frame.
Days on the market shows a week or less to go under contract in both six month values. With no July and August sales going into that value, I would not put much trust in it. During July and August homes were taking a little longer to sell. Nothing crazy. Maybe two weeks or less for a properly prepared and professionally marketed listing. We will have a better idea of marketing time for Braemar Arista homes next report.
If you placed your Braemar Arista home on the market, priced to current conditions you could expect it to take about two weeks or less to go under contract. Believe it or not, our fall market is a very powerful one. You could also expect to give some seller subsidy. The more enthusiastic buyers are about your home, the less likely you will have to give that kind of consideration. Marketing matters.
The next Braemar Property Value Report will be out in November. Until then, if you want to investigate the sale of your Braemar home, don’t hesitate to reach for your complementary consultation. Getting Braemar sellers to the top of the market is my specialty. Since 2005, No One Knows Braemar Better!