January 2016 Market Update for Downtown Littleton

Amy Terry Front Q4

December was a big month for closings in Downtown Littleton…22 homes sold!  A large jump from just 11 in November and 16 in October.  I do believe some of this was a result of new lending regulations that rolled out in October pushing closings further out as the industry adjusted.  Closings that should have happened in October or November may have been pushed to the end of the year to accommodate changes.  None the less it’s great news for Downtown Littleton homeowners.  While 22 homes closed only 11 new listings hit the market, not surprising for the holiday season, but still makes inventory even tighter and prices to continue to rise.

Currently there are 26 properties for sale in Downtown Littleton and only 7 of those are not yet under contract.  For buyers seeking to live in this desirable area there is not much to choose from.  I predict that February and March we’ll see a surge of new listings as sellers prepare for the Spring market.  This Spring and Summer will again show rising prices and multiple offers on homes priced to sell. If you’re a buyer and waiting for things to cool down I believe you have 3 ish years before that will happen and if you’re thinking of selling you are still in the drivers seat, able to dictate the ideal terms for selling, as buyers are willing to work with sellers agreeing to longer closings, rent backs, etc to make a deal come together.

*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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