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January 2016 Market Update for Westwoods

Julie George Westwoods Front Q4

There are currently only 4 single family homes available in the Sunrise Ridge and Westwood areas and no attached homes available! The price range of the active single family homes range from $537,000 – $860,000. There are currently 9 homes under contract in these neighborhoods with over half of them priced between $400,000 – $500,000. The trend has continued throughout the year that the $400,000 – $500,000 price range has seen the most activity. In 2015 these neighborhoods saw a total of 84 single family homes and 9 attached home close. We currently have a half of a month of inventory available for single family homes and zero inventory on attached homes. Throughout the year we have seen the price per total square foot on single family homes remain around $136 per square foot and $134 per square foot for attached homes. We saw single family homes stay on the market around 40 days until they were put under contract and attached homes around 13 days.

West Arvada will continue to be a desirable place for homeowners who enjoy the outdoors, access to open space, and great schools. I see our market continuing to move in the same direction as last year depending on the inventory. These neighborhoods can handle more listings and if that is the case the number of closed homes will go up compared to 2015.

I think this year will continue to be a seller’s market and anytime of the year you will find interested buyers. As in years past the spring time will see the most activity.

*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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