Braemar Property Value Report: July-August 2019 (Arista Series)
School is back is session and the fall season is upon us. Time to reflect on the last two months of our Braemar summer real estate market and see what happened with Braemar Arista Series home values. In case you are not familiar with the the name, Arista Series homes are among the largest homes in Braemar, built by Brookfield Homes. The Arista Series homes are one of three floor plans: Arista, Buckingham and Canterbury.
There was only one Braemar Arista home that sold during the months of July and August. As it turns out, I was the Buyer’s Agent on this deal. That’s why it is highlighted in blue text. Details of the sale are listed below:
Even though this was only sale, when combined with the entirety of the last twelve months of Arista home sales, the six and twelve month data points are updated. That gives us a chance to see trends happening in the short term to the long term. The latest six and twelve month average and median values are below:
Starting with the sold price column, we see that the six month average is slightly above the twelve month average. Slightly above is still above and heading in the right direction for Braemar Arista home owners to gain more equity in our rising market. The six month median is well above the twelve month median, a much more visible indicator that property values are moving up for Arista home owners.
Seller subsidy (closing cost assistance to buyers) is notably higher in both six month value points compared to the their twelve month counterparts. Seems Braemar buyers in this price range are starting to request more closing cost help…and they are getting it.
Days on market has come down in both the six month average and median values compared to the twelve month average and median values. This means Braemar homes in this higher price range are selling a little faster than they had been.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract and well on your way to settlement within about five weeks. You could also expect to pay a little less than 1.5% of the sales price, on average, in closing cost help to your buyer.
The next Braemar Property Value Report will be out in November. Until then, feel free to reach out and learn about the benefits of our year end selling season if you are considering a sale in the next six or eight months. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster Real Estate