Currently there are 20 active listings on the market in this neighborhood. That may seem like a high amount but is typical for the area due to the amount of new construction going on. Of the 20 that are active, 17 are either condos or townhomes-again typical for this neighborhood. Prices range all the way from $338,900 to 4.2 million.
Single Family Homes are become a rarity in this neighborhood. Because of the once low prices in this neighborhood, many developers were drawn to it and had a vision that it would be a hot neighborhood. Because of this, a majority of the housing here is new modern construction as many of the old homes and lots were bought and converted into condos and townhomes.
There were 7 listing sold during the month of November which says that this neighborhood still has a good amount of activity. Although it is experiencing the typical seasonal slow as October had 11 listings sold. The prices of homes sold in November ranged all the way from $345,000 to $719,900. Although there is a common type of home in this area (attached single family), the pricing can be pretty varied.
The average CDOM for the November solds was 183- tends to be higher in this area being that many of the listings are new construction. The average PPSF was $294 which seems to be about right for the area since there is such a range in the pricing. It is not usual though to see much under $350,000.
The listing and sold data tells me that although things are “cooling off” a little bit this is still a hot and sought after area. It doesn’t appear that the amount of new construction is slowing down anytime in the near future. And although the supply of homes seem to be there for the area, homes are still almost going for asking which illustrates the desirability here.
I predict that this neighborhood is still going to continue and grow. The news is out- this once “hidden gem” is not so hidden anymore. I do not anticipate the amount of new construction to slow down dramatically anytime in the near future. Advice I would give to homeowners in the area, especially ones that have been around for awhile, is that your home may be worth than you think! Call me for a free CMA or to find out what’s happening in your neighborhood!
*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.