February 2016 Market Update for Art District

Average price for Lincoln Park is pushing up to $365,000 and most properties are DSF homes

Golden Triangle is different as price points range from the high $300s up to 2 million the majority of the properties average from $550,000 to $700,000

More people are taking advantage of the properties that have flexible zoning to add more sqft to the property, build an Accessory dwelling or splinting double lots

Property at 1154 Kalamath sold for $255,000 great price even so that the property is in need of a complete remodel, there is a potential for the property to be relisted once remodeled in the $500,000 to $530,000 price range

Owner occupied buyers seam to be willing to pay top $$ for properties that are updated or remodeled and not so much interest on properties that need work. Properties that need work tend to last longer and sell for under asking price
Prices keep going up in Lincoln Park with its proximity to down town, light rail and easy access to the highway is becoming more well known and preferred urban neighborhood for new buyers

More sellers are noticing the value of their homes and are willing to let go of their home even if it has been in their family for decades as this is allowing people to retire or relocate to areas where they can buy a bigger home

*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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