Infographic: August 2015 Market Update for Art District

2015 8. Aug - Art District Infographic

13 new listings, 5 are under contract. The average price per square foot is $308 and average days on the market 18. Most are condos or town homes only 1 single family. Most homes are in the 300K price range and have been updated. Most blocks have at least one house with a building permit. Lots of updating or additions in the neighborhood. 8 sold properties, nothing that was listed in July. Average sold price $325K PPSF $307. 5 single family, 1 town home and 2 condos. Most were under contract within 14 days of going active.

Investors int the area are staring to look at new construction and willing to invest on bigger development projects. There are more properties listed in the neighborhood. There was a seasonal slow down on the market, but expectations are that it will accelerate again. The demand for properties in the area is still very strong compared to last year prices keep going up.

Buyers in the area are mostly looking for move-in ready properties. Home owners need to make proper improvements to get top dollar. The city is taking a closer look at the neighborhood and working on improvements such as trying to reactivate La Alma Lincoln Park. The redevelopment of South Lincoln Park is getting closer to being on it’s final phase.

*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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