As of mid-September, 2015, there are 56 active listings in Reunion and Buffalo Mesa. 27 of those listings are under contract. The average days for those 27 to go under contract was about 28. However, that average was slightly skewed because several of the homes were way over priced, or had severe pet smells or very unusual interior paint colors.
As far as the listings that do not have contracts, some of those are just coming on the market. The other listings that are still sitting with 30 or more days probably tried to push the market too much and will need to come down in price in order to sell.
The trend continues whereas homes over $400,000 are taking a little longer to sell then those listed under $400,000. New homes sales are still going strong with both Shea Homes and Richmond. Both are still quoting 8-10 months away from completion.
There were 27 homes sold in August of 2015 at approximately $116 per total square feet ($158 ppsf above grade). In comparison to the year before, August 2014 which had 37 sold homes at $107 per total square feet.
Reunion area, much like the rest of the Denver area, still does not have enough inventory to create a balanced market. Because of this, prices continue to increase.
The town homes in Reunion having really jumped up in value, with the all time high now being $241,000 for a 3 bedroom! A year ago the highest sold for a 3 bedroom was $220,000! We have seen a bit of a slow down in average days on the market which in August were 23 days compared to May of 2015 at 15. However, this slow down is probably temporary due to many buyers getting their kids back in school and end of summer vacations.
I predict the value of homes in the Reunion area will continue to rise. If you are thinking about selling, I do not expect this to be the typical “slower” time of year. If you home is in showing condition, it will sell!!
*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.