February 2016 Market Update for Golden

Buyers and Sellers are experiencing mixed emotions in our current market conditions. On one hand, it’s a seller’s market with most homes selling for fast and for at least 94% of the list price (at lower price points, below 500k, it’s common for properties to sell on avg. between 102%-106% of the list price). Then on the other hand, we have many frustrated buyers in this seller’s market due to a lack of properties for sale. Furthermore, many properties that are for sale in this market are in less than desirable condition and/or locations (by freeways, busy streets, etc.). Most buyers and Realtors are constantly refreshing searches for new listings multiple times a day only to discover that nothing new has been listed.

Golden Neighborhood Stats

DOWNTOWN GOLDEN

Total Volume Sold in Jan 2016 = $1,835,000

Avg Sold Price = $917,500

Avg PSF Total = $212

Avg Days on Market (DOM) = 56

There are currently 6 Active/Available properties (ranging in price $499,000 to $1,200,000) and 2 Under Contract ($249,000 and $380,000). On average, properties are currently selling for 94% of list price.

APPLEWOOD MESA

Total Volume Sold in Jan 2016 = $1,231,000

Avg Sold Price = $410,333

Avg PSF Total = $178

Avg Days on Market (DOM) = 62

There are currently 7 Active/Available properties (ranging in price $445,000 to $2,490,000) and 10 Under Contract (ranging from $367,000 to $1,100,000). On average, properties are currently selling for 96% of list price.

MESA MEADOWS

Total Volume Sold in Jan 2016 = $730,000

Avg Sold Price = $730,000

Avg PSF Total = $199

Avg Days on Market (DOM) = 64

There are currently 0 Active/Available properties and 2 Under Contract (Listed at $450,000 & $650,000). On average, properties are currently selling for 99% of list price.

BEVERLY HEIGHTS

Total Volume Sold in Jan 2016 = $640,000

Avg Sold Price = $640,000

Avg PSF Total = $163

Avg Days on Market (DOM) = 127

There is currently 1 Active/Available properties (Listed at $815,000) and 1 Under Contract (Listed at $489,000). On average, properties are currently selling for 96% of list price.

FOSSIL TRACE

Total Volume Sold in Jan 2016 = $0

Avg Sold Price = n/a

Avg PSF Total = n/a

Avg Days on Market (DOM) = n/a

There are currently 0 Active/Available properties and 0 Under Contract.

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In my professional opinion, it’s an early spring for buyers as we have

many qualified buyers actively seeking to purchase real estate now! And, conversely, sellers appear to be waiting to list their properties for sale until later in the year and when more properties are typically available for purchase in conjunction with the sale of their property. Therefore, we still have a bottle neck with ultra low inventory and will until more sellers enter the market.

Anyone considering selling their home this year, really should consider selling now as they will have less competition than they can expect this Spring and Summer!

*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.

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