Braemar Property Value Report: January-February 2018 (Arista Series)
It’s about that time again. Time to bring you up to speed with our Braemar real estate market, more specifically, what’s happening with the Arista Series homes in our neighborhood. Arista Series homes are the large, single family homes built by Brookfield Homes. Floor plans include the Allister, Buckingham and Canterbury.
When I pictured what mid-March would be like in Braemar, I didn’t picture gray winter skies, harsh winds and cold temps. I also didn’t picture a contracted real estate market with still so little for buyers to choose from. In all of Braemar, as I type this right now, there are only seven active listings for sale. Homes are going off the market nearly as quickly as they are coming on. Buyer demand is still high, but don’t let that fool you. Buyers are still passing up overpriced listings. Buyers want move in ready. Carpet and paint done. No projects.
For about half a year now, there’s been an Arista Series home lingering on the market. With nothing else to choose from, buyers have passed it over time and again. Other large homes that come on the market get gobbled up nearly immediately. Price and condition make a difference, even in a seller’s market. So while there is at least one Arista Series home for sale, there are no sales to report for the months of January and February. However, we can glean some information on what the market trend is by dropping our January and February sales from 2017 and taking a look at our six and twelve month value markers again.
Right now, the six month average and median sold prices are slightly below the twelve month average and median sold prices. This could be an early indicator that prices could be near peak in these large Braemar single family homes. Or, it could be a sign that the market is cooling off to this big homes. Only time is going to tell.
If you were to place your Braemar Arista Series home on the market, priced to current conditions, you could expect it to be under contract in about a month and a half. You could also expect to pay out at least $5,000 in closing cost help to a buyer. Marketing time and seller subsidy have been fairly consistent over the last year.
The next Braemar Property Value Report will be out in May. By then, we may have some new sales to report in the Arista Series. Until then, when you are ready to sell your Braemar home, give me a call for a free market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®