The current inventory consists of 5 homes with the most expensive priced at $424,350 and the most affordable at $230,000.
Last month there were 15 listings. The inventory went extremely quickly, especially for those homes with updates like: new kitchens, baths, window and roofs.
There are 10 homes under contract with an average of 12 days on the market. This is high due to one home being on the market for 55 days as it was priced too high.
I have really appreciated seeing homes with partial / full remodels. The quality of the inventory is such that buyers can get into homes with new finishes, appliances and big ticket items like mechanical and roofs.
Of the 10 homes sold 8 were sold at asking price or above. The average price sold point was $234,994 this is $17,629 higher than the last year 13 homes sold with an average sold price point of $217,365.
A clear demand was seen for fully updated homes for example 1713 W Kentucky Ave. was listed at $289,000 and sold for $330,000.
I believe that we will continue to see new inventory that provides buyers with quality finishes and move in ready condition.
This is all due to the fact that investors are taking full advantage of affordable priced homes in need of work as the low inventory ensures strong buyers and multiple offers.
*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.