January 2016 Market Update for Ralston Estates

Laura Wilson Front Q4

Our neighborhood currently has 4 active homes on the market as of January 11th. The average listing price per finished square foot is $149/psf and current active days on the market is averaging 33.

I’m keeping an eye on 12665 W 67th Pl. This home went on the market in early 2015 but was pulled off and underwent some major renovations. It was listed back on the market in October at $399,900, then reduced to $385,000 about 45 days later. It went under contract the day after the price decrease but was then placed back on the market a week later where it stands today.

Ralston Estates had 11 homes sell in December 2015 compared to 4 homes in November. The average days on market was 14 with the average price per finished square feet at $151/psf.

Average days on market decreased slightly compared to November signaling a little rush at the end of the year to get some deals completed.
Our December month in 2015 beat the 2014 stats: 11 homes sold versus 8 in 2014 with an average median price of $343,000 versus $294,500 in 2014. Also- days on market beat last year’s stats at 14 days in 2015 versus 20 days in 2014.

If we look back at the yearly stats, here’s how 2015 compared to 2014 overall:
Homes Sold: 92 (2015) vs. 80 (2014)
Average Price per Finished Square Foot: $167 (2015) vs. $143 (2014)
Average Median Price: $342,500 (2015) vs. $289,750 (2014)
Average Days on Market: 15 (2015) vs. 29 (2014)

Happy New Year!

While we may not see quite the amount of competition in our neighborhood that 2015 brought, we at 8z are still predicting a very fast-paced spring and summer 2016. If you are thinking about listing this year, use these next few weeks to spend some time getting your home “show-ready.” If you need an expert opinion in our neighborhood, call me!

*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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