Our inventory consists of 1- Active Listing and 4- Under Contract Listings for a total of 5 listings. The one active listing has been on the market since July.The only property to come on the market in the last 75 days is 9642 W 56th Place, which is Under Contract. Inventory is seasonably flat, to be expected. However, in this same 75 day time frame in 2014 there were 5 properties that came on the market as opposed to this one listing.
My community is within the following boundaries: east/Independence, West/Ward Road, North/58th Ave and South/Ridge Road. What is happening and really interesting to see is that within these boundaries lies numerous condos/townhouses; in particular the Skyline Estates condo community with 2/beds is in a 3% price point of the single family properties that lie within eastern side of the community. The Single family home with 2- beds, 1- bath sold for $231,600 and the condo with 2- beds, 2- baths sold for $225,000.
Home values in my community continue to appreciate and are on track for appreciating well above the 7% appreciation, as the Federal Housing Finance Agency reported in the second quarter of the year for the Denver area. I will expound on this in more detail next month.
The New Year will bring the opening of the light rail Gold Line through our community, which is exciting to have this to look forward to! Home values will continue to appreciate as they have been; we’ll continue to work in a Seller’s Market with home pricing to be crucial for sellers (as it always has been) because they’ll be competing with an increase of new build inventory for the buyers.
*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.