Braemar Property Value Report: November-December 2018 (Arista Series)
You know it’s cold outside when you are layering your clothing while you are in your home office. What can I say? I love my Braemar Arista Series home, but Brookfield Homes certainly skimped on insulating the rooms over the garage in my model. If you live in any home long enough, you find the flaws. There is no such thing as the perfect home. You learn that quickly as a Bristow Real Estate Agent.
This post isn’t about the quest for a perfect home, it’s about telling Braemar Arista home owners the current market values. Of course, if you aren’t sure if you are a Braemar Arista home owner, the Arista Series floor plan include the Allister, Buckingham and Canterbury. Still not sure if this is for you. If you email me your address, I can certainly tell what model you have, and what report is meant for you.
There were two Braemar Arista homes that sold in the last two months of 2018. There were both Canterbury floor plans. The details of each sale are listed below:
Taking these two most recent Arista home sales and update our rolling twelve months worth of sales and updating the six and twelve month value points, a read on the market emerges.
Let’s start with the most important column to Arista home owners–sold price. The six month average and median sold prices are both below the twelve month average and median sold prices. This is not great news. It is indicative of a slight decline in Arista home values.
When it comes to seller subsidy (closing cost assistance to buyers,) it the six and twelve month median are exactly the same. In better news, the six month average seller subsidy is less than the twelve month average seller subsidy. It seems that while prices are lower, at least closing cost help given did not also go up.
Finally, we come to days on market. The six and twelve month median are the same. Good news in this column is that the six month average marketing time is faster than the twelve month average marketing time. I don’t expect this trend to stay the same. In mid-November, our region switched to a new MLS system that calculates DOM differently. The most recent sales listed here were likely unaffected by that new algorithm But in the coming reports this year, don’t be shocked if DOM goes up.
If you placed your Braemar Arista home on the market, priced to current conditions, you could expect to be under contract in about ten weeks. You could also expect to give a little less than 1% of the sales price in closing cost help.
The next Braemar Property Value Report will be out in late March. These reports will continue to be published on SellingBraemar.com and shared on my Braemar Facebook Page. However, if you want electronic copies emailed to you, that you can print out and save like a financial statement, send me an email at ChrisAnn@LNF.com.
Until next time, if you want to know what your specific Braemar home is worth, contact me for a free market analysis. Since 2005, No One Knows Braemar Better!
Associate Broker-Licensed in VA
Long & Foster REALTORS®