We are rounding third and being flagged on to home plate. This will be another grand slam year for Martin Acres and Majestic Heights real estate.
The buyers have really taken a beating but there’s a fresh new line-up warming up right now and waiting to take the field in 2016. They are going to come out swinging hard! Let’s get down into some of the numbers.
We’ll start with the November sales. That won’t take long… there were none. We had 2 sales in November of last year but this year is coming to a halt a bit early.
Next let’s look at the number of active listings… there are none. Okay… moving on.
There are two listings currently under contract. One went under contract at the end of November and the other at the beginning of December. It’s a craps shoot as to whether we will see them close this year or next. If they don’t close until 2016 we will have had no sales in November and no sales in December. If that’s the case I expect to be informing you of some pent up demand come February’s market update. Stay tuned to see what happens.
We will be closing the year with right around 20% appreciation. Last year was at 15% and the year before that (2013) closed at 7% appreciation of home values. We are entering year 4 of what I expect to be a 5 to 6 year cycle of significantly rising home prices in the area. Just when it seems that real estate couldn’t possible continue to rise at this rate…. watch what happens.
Sellers will continue to struggle finding replacement homes. I predict that we will see many sales in the first half of 2016 with rent-backs to the sellers which will allow them time to find a house to purchase (or build) by the end of summer.
The average time it takes for a house in our neighborhood to go under contract is about one week. So if you are looking for a house don’t blink. Or better yet, call the neighborhood’s top real estate broker. I will help you succeed in this challenging market. And if you are considering selling your property or would like a free, no-obligation market analysis of your home… call me. I’ve always got time for Martin Acres and Majestic Heights real estate!
*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.