January 2016 Market Update for South Alameda & Jefferson Gardens

Leah Omilion Front Q4

In December there were 5 new listings, which maintained the level of inventory that November brought as well! As the excitement about Bellmar and the growing community amenities continues to gain recognition along with the “fix n flip” home owners now seeing the value in updating aged finishes and selling, this area will continue to see rising single family home prices. South Alameda has finally caught up with the Denver swing and can expect to watch a continued upward rise.

Prices are rising per sq foot, up from Novembers average of $135 to the December average of $148. While September- November did have a few entry level priced homes in the high $100,000s, December is contrasting with larger properties, more rooms and higher prices in the $300,000- $475,000 price point. ( Above average even compared to Denver)

It is interesting to note that there were only 2 “sold” propertied in November and a very healthy 5 closed sales in December. The December sales consisted of leftover inventory form the fall, but they were all very nicely finished properties with significant upgrades through out. November managed to move a simple investment property and a cute little ranch home… This mearly points to the slow down that occurred in Octobers inventory and resulted in November closings…. and the November inventory which resulted in the 5 December closings…. December has shown to be a VERY healthy month with a closing rate at 100%!

The trends in sold statistics point to a quick sale on usable, simple, affordable properties below the $300,000 mark… with only 3 days on market and a substantial difference for those in the higher price points above $300,000 with more space averaging 35 days on the market .
It still stands tried and true- the average South Alameda Buyer is a reasonable and simple person who has little use for “space” over utility. Utility still sells!

The market is trending upward getting ready for a booming spring and a roaring summer.

If you are looking to buy in South Alameda or Jefferson Gardens, now is the time… get into this area while you can. Over the next year current home owners are going to have a fabulous opportunity to CAPITALIZE on the new found interest in their property by remodeling, fixing up and selling… this area will be hard to get into in the coming years.

*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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