Infographic: October 2015 Market Update for Renaissance

2015 10. Oct - Rennaissance Infographic

 

There are currently 19 active listings. 6 of these are under construction, 4 are under contract, so that leaves 9 true active listings. The 9 remaining true actives range in price from $470,000 to $2,100,000. The average listing price for the current inventory is over $900,000!

The majority of active listings are expensive, well above the average sales price. The lowest priced active listing is listed at $470,000 and that’s for an attached ranch home.

There were 2 new listings in September:

4641 Lucca Dr – 4 bed, 4 bath, 2474 sq. ft., $390,000

4621 Portofino Dr – 3 bed, 3 bath, 3144 sq. ft., $395,000

Both went under contract in 3 days and likely received multiple offers. 4641 Lucca sold in 25 days for $2,500 over list price.

There were 4 sales in September. The low sold price was $346,000, the high sold price was $650,000, and the average sold price was $491,000. Homes sold after an average of 40 days on market.

Overall, I am seeing the usual seasonal softening that we expect after the hot summer months. It’s been encouraging lately to see that the market is still moving quickly and it’s competitive out there. But, for me and my buyers, it hasn’t been out of control crazy competing against 10 offers in one weekend.

I think it’s a great time for buyers to get back in the game if they became exhausted this summer. It’s an especially good time for FHA and VA borrowers to get out there because they likely won’t see the same competition as in previous months. This is also my favorite time of year to look for a good deal. It’s nice not to have the intense bidding wars driving prices up so high above list price.

 

*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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