Welcome to July’s Market update for Vista Ridge!
Currently we have 27 Listings that are active and available in the community, with 12 of those having been on the market since at least 60 days or more; this leaving 15 listings that have come in since the start of the month of July currently available. Furthermore, there are 16 additional homes that have come on the market since the start of July that have gone under contract within the month; this is still indicative of the fast market we have seen throughout the area.
Of the currently 27 active listings only one is a condo at the Blue Sky Condominiums, which is proving that the units are exceedingly more competitive and harder to acquire, with 5 additional condo’s under contract with none of them being on the market longer than 12 days.
The remaining active listings are a large variety of single family homes ranging from 3 homes in the mid to upper $300’s, to the 3 million dollar homes on Driver and Links. One of Vista Ridge’s strengths is it’s wide variety of homes at a wide variety of price points; granted, this is all above the $350K entry point. The average price per square foot is $140/square foot.
There is one strange property that is worth mentioning: 2732 Sunset St. We have a quality ranch home that was on the market for a month, went under contract and then fell back to the market at the end of July… Now it sits with no contract and is the best deal in the area. Its price per square foot is 97 dollars, and it has more square footage, a better location and equal finishes to several houses on the market that are going for a higher price. There is definitely a deal here.
In the month of July, 21 Listings sold, with 4 of them coming from Blue Sky Condominiums, and the rest being single family homes.
All four condos that sold went over their asking price by several thousand, indicating that the bidding war is still ever prevalent and furthermore, all 4 were put under contract within a week of market.
Similarly, 9 Single family homes were put under contract within 2 weeks of their arrival to the market as well. The market is favorable and fast to homes that price right, and show well, which is why it is imperative that you prepare yourself, and your home for this kind of market.
An interesting thing to note, the majority of Single Family Homes that sold this month were under $500k and only two homes sold over $475k. The demand for home under $500k has never been higher, and it shows by how fast they’re selling.
The data shows what we’ve been reading in the papers and telling our clients; the market is fast, and the market can be brutal. The homes that are worth their asking price are going above it, and that the farther north you go from Denver, the larger and more affordable the homes can become. Vista Ridge has such a diverse collection of homes and price points, its no surprise that we are becoming such a desirable place to live.
*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.