We are nearing the end of 2015 so I thought it would be fun to do a comparison of October of 2014 and October of 2015. What a difference a year makes!
Although we are entering what is generally thought of as the slow time of year, we still have a lot of activity happening in The Creek. There are currently 13 homes under contract and one active listing. November and December should be pretty active months for sold homes. What a great way to wrap up a spectacular year in real estate.
So how much has our market changed in just one short year? Here are the numbers. I want to disclose that for 2015 I used all of October and November up to today (Nov 18th) just so we had enough comparable homes to get a good number for each style of home.
October of 2014 Southcreek had 8 solds, 4 townhome and 4 single family. In October 2015 Southcreek had 5 solds, 1 single family and 4 townhomes.
In Southcreek from 2014-2015 the single family homes saw a 14% increase in Price Per SF, 16% increase in sale price and 46% decrease in days on market
Southcreek townhome price per sq ft increased by 15%, sales price increased by 12% and day on market decreased by 90%
October of 2014 Creekview had 2 solds. One with and one without a basement. October of 2015 Creekview had 3 solds. One without basement and 2 with a basement
Creekview homes with basements price per sq ft increased by 16%, the sales price increased by 6%, and day on market increased by 29%
Creekview homes without basements price per sq ft increased by 13%, the sales price increased by 6%, and days on market increased by 66%
Over all the Creek saw an average of 15% gain in price per sq ft and a 7% gain in value from October 2014 to October 2015.
I think this is great news all around. We are still gaining value and at a sizable rate. Being in “the field” on a daily basis, I have noticed that the market has cooled slightly. Homes are spending a bit more time on the market than they were this summer. We were so used to homes being listed one day and under contract the next it was a tough adjustment for Realtors and sellers when their homes spent a week or 2 on the market. Still a week or 2 on the market is a very small amount of time. So it continues it be a sellers market, but buyers are not feeling like they are wrapped up in a never ending race. They have a bit more breathing room and a bit more time to see a home and make an offer. Of course, this is case by case and depends on the price point and location.
I am excited to look at a year over year comparison in January to give us a true picture of how 2014 and 2015 compared. I have a feeling the average increases in values and ppsf will be higher than the numbers above.
So what words of wisdom should you take away this month? If you are thinking about listing your home you don’t need to wait until the spring. There are always buyers in the market and less competition due to fewer homes being listed may work to your advantage. I am happy to provide a market analysis for your home. It’s free and pretty painless . Even if you are not ready to sell right now I am happy to chat and keep you up to date on what is happening in The Creek!
Hope you all have a wonderful Thanksgiving. We all have so much to be grateful for.
*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.