January 2016 Market Update for Green Mountain Estates

Mary Kealey Front Q4

As of this update, if you are looking for a home in the Green Mountain Estates area, you have a total of TWO to choose from. First is the custom 6,200+ SF home on Mom’s Hill with a stunning view of the city, with a price tag down to $950,000 from its original list price of $1.1 million this summer. The other option is a townhouse on Alkire for $308,000. While nicely finished inside, the angle of the surrounding homes make an awkward view from your kitchen/dining room. This property has been on the market since mid-November. There are 10 homes under contract, so 2016 is really starting with a clean slate of fresh inventory.

In December of 2015, there were 20 total homes that sold in the area (10 single family and 10 condos/townhomes). That is nearly 3 times the activity from last month, where 7 total homes sold (4 SFH, 3 C/TH). Volume this month in our neighborhood totaled over $6.2 million dollars – in December! To compare that to last December, there was $2.4 million of volume. There were 2.2 times more homes that sold this year versus last, but the volume is 2.6 times higher. The biggest jump was in the townhomes of GM I, II and III. Their average sold price jumped to $222,644, up from $198,667 this time last year. They were also on the market for 16 days, down from 20 days last December.

Even as we begin 2016, homes are being snatched up in under a week, with multiple offers over asking price. There are active, discerning buyers looking to live in our very desirable neighborhood. Are you thinking about selling? No need to wait until Spring. There is zero competition at this time, and buyers waiting to jump.

*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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