January 2016 Market Update for Troutman Park

Brandon Bidwell Front Q4

 

Right now the only home available in Troutman Park is 3852 Century Dr. It’s been on the market since 12/04/2015 and is listed at $399,900 which is $44,900 higher than the all time highest sales price in your neighborhood (800 Grand Lake Ct)

Here is the 2015 year end real estate review for your neighborhood:

After all the smoke settled at the end of 2015 there were 78 homes that sold throughout the year in the Troutman Park community at a total volume of $22,499,445!

They ranged from $218,325-$355,000 at an average of $288,454 and a median price of $290,000. The average days on market was 37.

Compare that to 2014′s totals:
75 homes sold
$19,135,100 total volume
$180,000 low price
$329,000 high price
$255,134 average price
$255,000 median price
44 average days on market

That equates to a 13% appreciation rate for the average price on a year over year comparison. Not bad when you consider that the West side of Old Town (West of College Ave) realized an 11% appreciation rate during the same time.

Let’s take a look at the numbers for Troutman Park by home style for 2015:

Ranch style homes
22 Sold
$281,728 Average Price
$148.36 Average cost per square foot

Two Story homes
17 Sold
$318,432 Average Price
$128.40 Average cost per square foot

Tri-Level homes
24 Sold
$275,429 Average Price
$170.12 Average cost per square foot

Bi-Level homes
12 Sold
$276,813 Average Price
$153.10 Average cost per square foot

Four plus Level homes
3 Sold
$318,666 Average Price
$148.22 Average cost per square foot
All signs seem to indicate that we will see more of the same in 2016. There will be high demand for property in Troutman Park neighborhoods and I expect we will see another all time high sales price before the year is over. It would be reasonable to assume we’ll notice another year of somewhere around 15% appreciation as well.

If you’re considering selling a home in 2016 you will find that the best terms will be realized when:

1. You sell before August (this is when buyer activity drops off significantly in Fort Collins)

2. You make preparations to merchandise your home properly. Using a stager, making any repairs or improvements needed and hiring a professional photographer are all best practices for maximizing your sales price.

3. Hire a professional, full time realtor to guide you through the marketing/sales process and negotiate on your behalf. It’s true that just about anyone could sell your home but the difference between someone that does a good job and an amateur is significant.

4. Make sure you’re home is exposed to the market for at least a few days (4-5 seems to work quite well).

*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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