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Infographic: August 2015 Market Update for Sloan’s Lake

2015 8. Aug - Sloan Lake Infographic

Currently the listings in Sloan’s Lake run from 2.2 million to $300. In fact, 6 properties are over 1 million, 59 are between 1 mil and $500,000 and the remaining 36of 101 current listings that are not yet under contract are between $500,000 and $300,000 – no listing under $300k currently, wow! The whopper at 2.2 million is a triplex on over 12,000 sq feet at 1575 Grove St. The median is a new condo at 1810 N Julian St [which is part of the West Colfax area that I have incorporated into my area of interest. The lowest priced property on the market and currently not under contract is a $300,000 charming 1880 Victorian at 3320 W 26th Ave.

Here are a few interesting recently sold properties:

A 1942 tudor at 2440 Quitman St under went a fabulous renovation and was recently sold for $812,000. A new house emerged from a Vintage Sloan’s Lake Tudor cottage. Architect-designed, it was beautifully re-imagined.

And what we are seeing a lot of, 3401 W 16th Ave sold for $545,000 cash. The lot size is 7740 square feet – 57′ X 138′ (per Denver Assessor’s office), and was marketed as a great potential scrape and build? lot size 6540 – 50′ X 130′. It appears the same buyer also purchased 3401 W 16th Ave, cash, and is also G-MU-3 zoning. Look for that project to rise from the ground. It will have city and mountain views.

My associates at 8z report a slight cooling but I see that each year about this time, when school families are getting back into the swing of things and as families and single folks alike are finishing up summer vacations. Sloan’s hasn’t cooled, it is still hot and hotter! Homeowners are improving their properties, buyers are renovated their vintage homes and developers are fighting it out over huge potential parcels.

My predictions and advice remain constant… if you want to buy, don’t let the market scare you. At least you have super low mortgage rates which only leverage your buying power. Yes, sellers are getting a premium but this is offset by your buying power and the fact that you will continue to see swift appreciation. And, if you are thinking of selling, get your home in tip top shape and do it. If you want to buy, do it – enjoy the low mortgage rates! And most of all, call me, I can guide you through what can be a confusing time to buy or sell.

*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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