January 2016 Market Update for Conifer Mountain

Bob Maiocco CONIFER Front Q4

Conifer Mountain a Year in review:

2015 was a great year for real estate on Conifer Mountain! We had 26 Closings which is a 44% increase in the number of sales over 2014 (18 in 2014). Those sales came at a brisk pace averaging only 50 days on the market. That is a pretty remarkable statistic considering that there were two sales in the 700’s and by their nature—they take significantly longer than average to sell, whereas there were only two sales over $500k in Conifer Mountain in 2014 and the average marketing time in 2014 was still 54 days. So seller’s in Conifer Mountain were rewarded with fast sales with higher prices than in 2014.

Conversely, the average price per total square foot among the 2015 sales was very close to the average in 2014. In fact among the single story homes the average was the same at $152/total square foot while the two stories were only slightly better at $155/total foot. That’s an important fact since, at first glance, when looking at the average price of a home in Conifer Mountain and seeing that it has increased from $423,894 in 2014 up to $474,961 in 2015 one might think there has been tremendous appreciation ($474,961-423,894=$51,067 improvement divided into $423,894= 12% but the reality is that the pricing has held more or less the same but there have been a few higher larger home sales than in 2014 that boost the average.

A closer look at the sales in 2015 reveal a healthy mix of ranches and two stories half of the homes sold were ranches (13) while the other 13 were primarily two stories and one multilevel in there as well.

Five of the listings were sold above full price and another seven sold at full price! So nearly half of all the Conifer Mountain home sales were at or above full price! There were many multiple offer scenarios and I was happy to help both buyers and sellers navigate those scenarios. Marketing homes to sell to such an aggressive buyer pool of “trained” buyers who may have lost out in prior multiple offer scenarios is a unique treat for a real estate broker. It’s important to not only get the pricing right but also to have the marketing plan in place to assure all of the buyers learn about the offering in time to prepare and make their best offers! If you would like to learn more about that system please let me know—or if you’d like to visit with some Conifer Mountain recent sellers who benefited from my unique strategy just send me an email and I’ll be happy to accommodate.

2016 is off to a great start with the closing of 10777 Timothys Drive in the low $500’s and $169/SF and 10499 Christopher in the low $300’s at $145/SF. Unfortunately- or fortunately if you are planning sell this year we’re desperate for inventory in Conifer Mountain! In fact, today, there isn’t a single home for sale under $499k. If you’v been thinking of selling or just wondering how the market has improved your home’s value please send me an email or give me a call and I’ll be happy to help interpret the facts.

*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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