Braemar Reflection Quarterly: April-June 2021 (2nd Quarter)
Today I bring you the last of the Braemar quarterly property value reports for the second quarter of 2021. This edition of the Braemar Reflection Quarterly focuses on the sales of Reflection homes in Braemar located off of Tarvie Circle that are single family homes, attached only at the garage, and adjoined as such to one neghboring property.
There was only one Reflection home that sold in the second quarter. That’s actually good news because the last time there was any Reflection home sales to report was the fourth quarter of 2020. The details of the second quarter 2021 sale is listed below:
Seeing a jump from a list price to sold price of $10,000 is nice to see. It offsets the $8,000 seller subsidy request (closing cost help to buyer.) Taking this quarter’s sale and combining it with the last three quarters of sales, the six and twelve month data points are updated as seen below:
Because there was only one sale in the six month data range, both the six month average and median data points are identical. The sold price price column does show an increase from both the twelve month average and twelve month median sold prices compared to the six month values. Like everything else in this seller’s market impacting Braemar, Reflection homes are continuing to increase in value.
The seller subsidy column is where things are bit different for Reflection homes. In just about every other report I have compiled for Braemar property values, average and median seller subsidy is absent in the six month values and might be around $1,000 or less in the twelve month average as buyers ask less and less of sellers just to get under contract with so liittle inventory on the market. The Reflection homes are still seeing substantial seller subsidy requests.
Days on market is a literally a day or two longer in average and median values in other Braemar property reports. Still six to eight days is not a long time to be on the market. My guess is that buyers are weighing a semi-attached home against detached options that may be available at the time. It is an unusual configuration and clearly, not enough to stall buyers for too long.
If you placed your Reflection home on the market, priced to current conditions, you could expect it to be under contract in about a week. You could also expect to pay about 1.5% of the sale price in seller subsidy.
The next Braemar Reflection Quarterly will be out in October. Until then, when the time comes to sell your home, the preparation and marketing will be critical in creating buyer enthusiam. It is buyer enthusiasm that wrings every penny and the absolute best terms the market will bear out of your home. Outstanding listing preparation advice (lowest dollar outlay for the biggest bang on the market) and professional marketing are standard in my business no matter the market. Since 2005, No One Knows Braemar Better!