Currently there are 9 active properties on the market in West Colfax. The average CDOM is 48 and the average price is $350,244. The average price is typical for this area but the average CDOM for October is a little higher than normal for this area. This is probably due to the normal slow down of the fall/winter season. The highest priced property is $600,000 which is a little high for this area and the lowest priced property is $189,900.
There is a property on the market for $600,000. That price is a little high for this area. It has been completely remodeled and has beautiful finishes therefore it has a higher price point but again, it is more typical to see those prices in Sloans Lake, and Jefferson Park.
During the month of October there were 4 properties sold. The average CDOM was 1 day which is low for this neighborhood which tells me the properties that were on the market in October went quick! The average sale price was $329,400 and the properties that sold all came within 98% of the list price. The average PPSF was $196.
All of these properties went under contract within 4 days and had sales prices that all came within 98% of the list prices. One of the properties that sold was sold before it hit the market. All of this data tells me that the homes were probably priced at just the right amount to attract enough interest.
The data tells me that the market has cooled off during these fall months and homes are staying on the market for more days than in the Spring and Summer months.
I would tell current homeowners to take into consideration when they decide to list their home and to be informed on the market and what it is doing. If there are some repairs or improvements they have been wanting to make to their homes before listing now would be a great time so that when Spring hits they are ready to roll!
*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.