Infographic: December 2015 Market Update for West Colfax

2015 12. Dec - West Colfax Infographic

Currently there are 7 active listings. These are the same listings that were listed in the month of October as well so there were no new listings that came on the market in November. The average listing price is $383,243 with an average PPSF $250. This price is typical for the neighborhood.

There are two listings currently on the market that are in the 600s which is not a very typical price point for the neighborhood. One of the listings is new construction and the architecture, style, and finishes are typical of the new construction found around Sloan’s Lake, The Highlands and Jefferson Park.

During the month of November there were 4 listings that sold which is higher compared to the month of October, which was zero for October. The average price of the homes sold was $325,250. The sold prices of the home ranged from $295,000-$350,000- all very typical for this area.

The average CDOM for the month of November for the listings was 36. The average is slightly higher because one listing’s CDOM was 103, affecting the average. I think this listings CDOM was higher because it was initially listed at an overpriced value and appeared to hold out on that price for some time.
The new data tells me the that market has slowed down here a bit given that no new listings came on the market in November. Because of the fall/winter months and the holidays, homeowners maybe be holding out until the Spring to put their homes on the market when things heat up again. When comparing to November of 2014, the data appears to be similar- three sold listings in November in 2014 and four in 2015. Tells me the market has remained fairly consistent in the area in the last year (generally speaking).

I believe after the holidays come to an end and tax season is upon us, the market will pick up again. As a buyer, now would be a great time to be looking as many are waiting until after the holidays to begin their search. Although things have cooled down a little, we are still in a hot market and I only anticipate things to pick up in the coming months as Spring is just around the corner.

*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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