There are 6 homes on the market right now in Troutman Park and they’re all under contract. These properties range in price from $260,000-$350,000 at an average of $300,200.
Last month at this time there were 10 houses for sale in your neighborhood and 9 of them were under contract.
The two homes that became available most recently went under contract pretty quickly for this time of year:
368 Albion Way – under contract in 2 days
701 Coronado Ave – under contract in 3 days
Compare that to the averages of 36 days and $10,625 in price reductions that it took the 4 others out there to go under contract.
There were 6 properties that sold in Troutman Park this October. They ranged from $235,000-$325,000 at an average of $284,333.
In October 2014 there were also 6 sales in your neighborhood. They were fairly comparable in range from $240,000-$314,000 and at an average of $277,583.
There is a significant difference between the homes sold in October of this year vs October of 2014 however. The owners of the homes sold last month were initially a lot more aggressive with their pricing.
In October 2014 just 2 of the 6 sales required price reductions ($10,000 on each)
In October 2015 3 of the 6 sales had one or more price reductions ($10,000 on 2 properties & $50,100 on 512 Saulsbury Ct)
On a larger scale the Fort Collins market has seen sales volume decrease by 21.9% on a year-over-year basis in October. Looking at the data for Troutman Park that is obviously not the case.
The recent appreciation in your neighborhood has created unrealistic expectations for some sellers (as noted) but there is certainly still high & consistent demand for real estate in Troutman Park’s neighborhoods.
If you’re thinking about selling a home in the Troutman Park community it would be wise to start considering preparations for selling next year. As we come upon the holidays activity will slow down as it always does. Once we get into the new year things will start to pick up and take off with buyers actively returning to compete for the purchase of properties.
*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.