There are 10 active listings with two new listings in December. This is crazy low. 6 of the 10 are under contract and range between a $370,000 condo, 2 pieces of land, 2 new construction and a house in Carolyn Heights that has been on the market for 9 months between $2.5M-$2,395,000.
The remaining active listings are 4095 19th street at $774,500 which has been on the market since September. It’s a prime candidate for a major remodel but the price is a bit high for being on a busy street. 2015 Orchard is essentially land for $719,500 and has been on the market since May of 2014. Due to the location of the house behind the property, the lot lacks privacy for anyone who builds a new house. The market has spoken and
Inventory in Crestview is the lowest we have seen all year. There were only 2 new listings bringing active listings up to 13 with 6 under contract. Both of the new listings went under contract with in the first few days of being on the market. The remaining active listings have been on the market for 90 days or longer.
1525 Redwood at $699,000 with a .34 lot and 2111 Norwood at $527,000 for .47 lot have homes that will be scraped for a spec or custom home to be built. The home on Norwood was non insurable HUD home but still had 30 some cash offers to work through as $527,000 for almost a half acre of land is a steal in this market. 1/3-1/2 acre lots have been selling between $600-800,000 in 2015.
The number of active listings has been consistently low for the last 3 months averaging 18 homes for sale. The average price per square foot has been varied depending on the number of homes over $1.5M that have sold.
The Porchfront homes that are now completed on the west ends of Sumac, and Tamarack went under contract quickly due to their pricing for new construction at $400-$420psf.
Condos and small single family homes between $400-700k continue to sell quickly around $279psf. Vacant lots, and “scraper homes” continue to be in demand when available for $600-700k for .3-.4 acres depending on the street.
The highest priced homes (per square foot) continue to be those that are new, or newly remodeled with a contemporary layout and finishes.
Based on the number of buy
New listings tapered a bit from July, which is normal for this time of year, but they were varied which is helpful.
A house that is apart of the affordable housing program came on the market and immediately went under contract, as did a 2 bed/2 bath single family home in Sundance.
A property on Topaz came on the market for just under $1.2M for land only as it suffered greatly in the 2013 floods. Also a home on 19th that sold a year ago, came on the market with a nice kitchen remodel for just under $1.4M. Finally, a flag lot on Quince that is ultra modern with sleek finishes is available at $1.695M.
78% of the active listings have been on the market for at least 60 days or more. The ma
The active listings have been a bit stagnant this month with several of the over $1.3M+ listings seeing little movement. Once families return from their summer vacations perhaps price reductions will put more of these homes that have been on the market for over 80 days under contract....