January 2016 Market Update for Rock Creek North

Brad Klein Front Q4

Hi Folks, I want to extend my sincere thanks and gratitude to everyone in Rock Creek. For 24 years I’ve been able to serve the needs of this community in a variety of ways from school fundraisers, a community directory, flags, pumpkins, and even Santa visits (for those who remember). Along the way I have made a living for my family, and made trusted friends and clients. Most importantly, I have been able to assist hundreds of families with the transition into, or out of, a home. Buying or selling a home, and eventually moving, can be one of life’s most stressful events. Being chosen again and again by Rock Creek families to assist with that move has been my honor. Thank you for allowing me to share my professionalism, knowledge and expertise over the years.

Series 

Total Sold 

Lowest $ 

Highest $ 

Average $ 

% Change 

Legacy Series

6

$370,000

$485,000

$434,466

+11.5%

American Series,

Park Series

11

$376,500

$507,000

$426,331

+10.3%

Infinity Series,

US Homes

17

$412,000

$702,000

$534,552

+13.7%

Heritage Series

5

$485,000

$529,000

$505,000

+4.7%

Classic Collection

15

$448,000

$785,000

$614,033

+6.6%

Colorado Collection

15

$575,000

$760,000

$698,966

+7.9%

Masters Series,

Golden Design

4

$692,500

$795,000

$745,187

+4.5%

Custom Series

5

$849,000

$1,142,333

$953,866

n/a

Let’s look inside the numbers. The total number of sales this year was 78, as compared to 80 last year. The slight drop in sales is deceiving especially because 2015 was one of the busiest and most competitive years in over a decade. What’s the rub? I personally know of many sales that were never reported to the MLS since they were created through inside knowledge. That inside knowledge may have left thousands of dollars on the table. Ask me about it, if you are planning on selling this year. From the charts above and below we can see the biggest gains were realized by the lower priced homes (under $550,000). Year over year appreciation created such a competitive atmosphere that buyers paid huge premi-ums just to get a foothold in Rock Creek and the lower end homes were the beneficiary. The upper end homes realized the same year over year pressure, resulting in the first reported sale over 1 million dollars in Rock Creek and 5 total sales from the Custom homes, where none had sold in the previous 5 years combined. Also worth noting is the Colorado Col-lection had twice as many sales in 2015 than 2014 and the increased turnover led to a healthy appreciation gain.

Average Sales Price Percentage Change 

2010 

2011 

2012 

2013 

2014 

2015 

Legacy

-4.6%

-3.1%

+7.9%

+9.9%

+11.5%

+11.5%

American/Park

+5.9%

-7.7%

+3.5%

+7.9%

+3.4%

+10.3%

Infinity/US

+2.6%

-9.5%

+8.2%

+9.1%

+4.3%

+13.7%

Classic

-3.3%

+8.8%

-4.2%

+6.9%

+10.6%

+6.6%

Colorado

-4.0%

+10.0%

+5.9%

+1.6%

+3.4%

+7.9%

Master/Golden

+10.2%

+7.7%

+4.1%

+14.5%

+0.6%

+4.5%

Custom

n/a

n/a

n/a

n/a

n/a

n/a

I know folks read this newsletter for my insights and predictions for the year ahead and to see how the year stacked up against the past. Let’s see how I did. Last year I said “This may be the year to sell your home if you are trying to sell at the peak of the market.” I would grade this prediction as an A-. The upper end homes fell a little in price after July, while the lower end homes continue to break new highs. Looking ahead to 2016 the price increases are accelerating in the low-to-mid price ranges and moderating in the mid-to-upper price ranges. By summertime these two forces will have balanced as the market evolves into a healthy market that will still favor sellers. Appreciation should slow to the 4%-6% range. This prediction is based on historical data that has demonstrated our market correcting in the 5th or 6th year of an upward trend. As always, to get the best advice on when and how to sell your home in any given market call me. I have the market knowledge, track record of success and straight honest advice that I would love to share with you.

*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/orMLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.

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