Infographic: October 2015 Market Update for Sloan’s Lake

2015 10. Oct - Sloan Lake Infographic

Home and property sales for the month of September are down from August which was down from July.

Is the market slowing? NOPE, there is usually a drop month by month, so the real deal is looking at Sept year over year:

Detached homes Sept 2015 vs Sept 2014, more sales, higher prices.
2014: 8 sales, $373k median, $393k avg
2015: 11 sales, $420k median, $433k avg

Attaches homes Sept 2015 vs Sept 2014
2014: 10 sales, $415k median, $372 avg
2015: 8 sales, $510 median, $506 avg

Stats don’t tell lies, SLOAN’S IS STILL WAY HOT!

Even when this Infographic says Buyers Market – I’m afraid it is not, it is a Sellers Market still. The infographic, if you recall, doesn’t take into account that in 2015 we are now picking up the area north of West Colfax and we did not account for this in 2014.

And speaking of West Colfax, St. Anthony’s Redevelopment is still going strong. Here is a link if you want to keep up to date:

http://sloansdenver.com/

And the latest news is that Alamo Drafthouse, Little Man Ice Cream are among those leading the charge to revitalize the west Denver corridor. Alamo Drafthouse even sponsored a cool outdoor film screening. Here is more about Alamo, Little Man and what’s coming up:

http://www.denverpost.com/business/ci_28839315/retail-rippling-from-st-anthony-redevelopment-along-west

THIS IS AN EXCITING TIME TO BE PART OF SLOAN’S LAKE!

Trends that we have seen continue, why change a great thing when it’s working! Obsolete, or in some cases, almost obsolete properties are making way for development to modern duplexes, or even condos. Some lots stay as a single detached home, but become modern and multi story. Roof top patios are the norm. In a few cases a beautiful and charming traditional style home comes around as a new build – that is nice to see.

What’s available?
Detached homes:
4635 W Byron Pl $1,250,000 fabulous lake views. 1947 built 2 story, 3,100 fin sq ft. It’s a bit quirky.
3935 W Byron $1,249,000, 3+ story modern build, 3 car garage, 4026 fin sq ft. Handsome.
1928 Grove, 1/4 acre for redevlopment, $1,199,000.
2011 Osceola, which I toured on Friday is gorgeous! $1,199,000, 3,296 fin sq all above grade.

Attached homes:
The mod beauty, 1/2 duplex at 2893 Wolff is back on the market. Boasting 3,706 fin sq ft and terrific views, it can be yours for $899,999. Or at the other end of the spectrum, a 788 sq ft 1957 ranch is $265,000.

Of the homes sold in Sept, the five highest transactions were all newly built attached homes: avg price $640,311, avg fin sq ft 2,261.

The top three detached homes, in contrast, had 2,190 fin sq ft and the average sold price was $503,750. These were traditional resales, with an average year built of 1926. Nice traditional homes that I am happy coexist in the ever changing Sloan’s Lake.

2019 Lowell went in one day, cash $420,000. No photos, 6,350 sq foot lot. No garage, pretty run down, bought for land value.

The Pink Lady, Victorian style, built 1986, [not 1896], sold at 2748 Perry St. $405,469. Needs some updating but got a fair price due to the detached studio and 3 car detached garage.

And I thought certainly an investor would buy both 1935 and 1945 Hooker for a combined lot of 13,000 sq ft, but unless I am missing something, only 1935 Hooker sold, $470k. Corner is off market right now. Didn’t expect that.
Supply has picked up in metro Denver. But not much. Still a seller’s market. But interest rates are still low but expected to creep up a bit more. I expect a larger increase in December.

Nothing has changed. Get in this market now, it is exciting and both sellers and buyers can win!

*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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