As predicted, inventory levels have begun to rise slightly which is typical of the fall season. With more buyers taking August and September to settle in for a new school year, there is more opportunity to avoid the bidding wars of spring and summer.
Currently there is one active home in the midtown area, five under contract, and eight that sold in the September/October months thus far.
As one would expect, listing prices continued an upward trend but there was an even balance of properties selling at list price, above list and below list. This was largely dependent on condition and original pricing.
In 2014 during the same period there were 10 properties sold, with a low price of $197,500, a high of $295,000 and an average of $242,850. For this time period in 2015 we’ve seen 8 properties sold, with a low of $279,000, a high of $335,000 and an average of $302,278.
Not surprisingly, many homeowners are benefiting from the equity the market has afforded them, with many people in the area putting up new decks, fences and other home improvements via cash-out refis. 8z Mortgage can certainly help with this!
*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.