January 2016 Market Update for Clover Basin

Anne Dorozenski Front Q4

General Thoughts

Happy New Year 2016!!

Can you all believe that we are already more than half way through January?  (yes, I’m serious!) Before we look ahead to see what the New Year may have in store, I think this is a good time to reflect on the past year 2015. Everyone has probably heard that Longmont and Colorado are hot markets.  It is a Seller’s market.  But what exactly does that mean??

It comes down to simple law of supply and demand.  Supply/inventory (# of properties available for sale) is down and demand (# of buyers looking to find a property) is up!  Just look at this comparison of number of homes sold in our neighborhood area in 2014 vs 2015…

 

Number of Sold Listings
Period 2014 2015 Difference % Change
1st Quarter 16 14 -2 -12.50%
2nd Quarter 33 26 -7 -21.21%
3rd Quarter 27 25 -2 -7.41%
4th Quarter 25 24 -1 -4.00%

 

Yearly Analysis
Period 2014 2015 Difference % Change
Year 101 88 -13 -12.87%

Active Listings

Here are the new listings that came on the market in December 2015. (note: this does not include any new construction). There were NO properties in our area that were listed below $996,000.  Really?  Really! We know SW Longmont is a sought after area due to good schools, walking paths and parks, and proximity to Boulder to name just a few.  Can you just imagine the frenzy that would be created by a listing less than $500,000?

 

New Listings December 2015
MLS# Address Price SqFt BD BA Price/SF Status Days to Contract
IRES 780769 4122 Heatherhill Cir $996,000 5400 4 4 $184.44 Active
IRES 780316 8757 N 87th St $1,195,000 5018 4 5 $238.14 Active
IRES 780289 4110 Heatherhill Cir $1,190,000 5072 4 6 $234.62 Under Contract 1

 

Sold Listings

MLS# Address List              Price Sold Price Type BD BA SqFt Price/SqFt DOM DTO DTS SOLD DATE
IRES 778406 3925 Oakwood Dr $300,000 $300,000 RES 2 2 1399 $214.44 40 6 40 12/7/2015
IRES 778241 814 Timothy Dr $359,900 $359,900 RES 3 2 2799 $128.58 45 4 45 12/11/2015
IRES 779068 3752 Oakwood Dr $265,000 $265,500 ATD 2 3 1580 $168.04 44 4 44 12/23/2015
IRES 780653 815 Snowberry St $350,000 $350,000 ATD 3 3 2048 $170.90 17 2 17 12/30/2015
IRES 778581 3527 Boxelder Dr $499,900 $494,000 RES 4 3 4450 $111.01 60 10 60 12/31/2015

 

Count High Price Low Price Avg Price Median Price ADOM/ACDOM
5 $494,000 $265,500 $353,880 $350,000 41/41

Predictions

Déjà vu!! I predict that this year will be a repeat of the previous year. With that said, while it is easy to sell a home in this market, sellers need to have a goal of maximizing the net price they receive.  That means your house needs to be in perfect showing condition and priced to attract multiple offers. You want the home that 20 people compete for, not the one where people kick the tires and take a pass.

And…. I predict it will be a tough game, but the Broncos will win the Super Bowl!!! ?

 

*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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