So far this beautiful warm, if not hot, Autumn has kept the real estate market at least warm, if not still hot as well.
As we head into the winter months the seasonality of real estate in Colorado will slowly shift the market to be a bit more balanced between buyers and sellers (but will generally still favor sellers) . So far though it’s been an extended summer in terms of real estate trends.
Currently in our lovely Northside neighborhoods, there are 9 residential homes for sale (of which 5 are under-contract).
Condo/Townhome sales are about the same as they were last year at this time. The reality is that the attached dwelling market would be at a near complete standstill if not for the new construction at Steel Ranch and North End. We are generally seeing very, very limited resale condo/townhome inventory in all of Louisville.
Here’s a link to the current inventory (both active and under-contract):
Or in short, the Northside falls between $250,000-ish for a 2 BR resale condo/townhome ($390,000-ish new) all the way to the $700K+ for either a new or highly remodeled home generally larger than 2,700 sq ft.
Sept 2015 sold data (DTO = days to offer)
183 Monarch St. List: $375,000, Sold: $400,000 4 beds, 2 baths, 1,823 sq ft. DTO 2
2424 Evans Ave. List: $389,000, Sold: $403,000 3 beds, 2 baths, 1,296 sq ft. DTO 3
212 Vulcan St. List: $397,000, Sold: $410,000 3 beds, 3 baths, 1,995 sq ft. DTO 32
541 Centennial Dr. List & Sold: $445,000 (orig. list price: $475k) 4 beds, 3 baths, 2,796 sq ft. DTO 52
235 Regal St. List: $469,900, Sold: $478,000 3 beds, 3 baths, 1,810 sq ft. DTO 7
587 W Hawthorn St. List: $529,900, Sold: $524,900 3 beds, 2 baths, 3,404 sq ft. DTO 20
2231 Dogwood Cir. List: $519,000, Sold: $526,000 4 beds, 4 baths, 2,456 sq ft. DTO 5
2296 W Hecla Dr. List: $550,000, Sold: $562,500 4 beds, 3 baths, 2,760 sq ft. DTO 7
519 W Ash Ct. List: $639,900, Sold: $635,000 4 beds, 3 baths, 3,388 sq ft. DTO 24
2523 N Franklin Ave. List: $649,000, Sold: $710,000 4 beds, 3 baths, 2,831 sq ft. DTO 5
116 Pheasant Run List: $285,000, Sold: $282,000 2 beds, 2 baths, 1,568 sq ft. DTO 27
10 (TEN!) homes that closed in the month of Sept. Last September, there were only 2!
We have all been watching the Front Range supply and demand reach a more dramatic divergence. It’s been 3+ years and this particular market isn’t going away tomorrow. Our limited numbers of seller’s will sell and our plentiful buyer’s will buy.
There are still some good opportunities for those getting into the market this late in the year. Our market will still lean more towards sellers with a continued lack of inventory. And yes, there are less buyers this time of year and less probability of competing with 5-10 offers on a given property. Buyers who are nerve wracked by fierce competition, brave any weather because this is your best time to be out there.
*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.