Currently, there are 22 active listings in Renaissance, Meadow Mountain and Portico. The majority of the actives are new construction scheduled to be built in the coming year. 11 active listings are already under contract. There are more like 8 true active listings.
The current inventory is more expensive ranging in price from $468,000 to $2,100,000. There is only 1 current active listing under $400,000 – 1671 Venice Ln, which is a 2 bed, 3 bath townhome priced at $352,900. It went under contract in 5 days.
October produced 6 sales in the community. The low sold price was $370,000, the high sold price was $950,000, and the average sold price was $540,583. The 6 sales closed after an average of only 40 days on market.
Overall, I see strong demand across the board here. It’s interesting that with the fall season upon us, the average days on market was less than 40 days. And, there’s really no difference from the less expensive listings to the higher priced listings. Not much seasonal slowing going on over here. Every new listing to hit the market at or near the fair market value has been in high demand. 4038 Ravenna hit the market at $375,000 and sold two weeks later for $381,000. 4219 Bella Vista listed at $433,700 and was under contract in 4 days. 4012 Milano came to market at $695,000 and was under contract in 11 days. Strong buyer demand from the top of the market down.
Everything feels to me like we are going to have an incredibly strong 4th quarter of 2015. I predict that the end of the year numbers will be solid and the tight inventory, steadily rising prices, low days on market, and strong sales volume will continue right into the 1st quarter of 2016!
*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.