We currently have 62 active listings in Reunion and Buffalo Mesa! 38 of those are under contract. Average days to contract for those 38 was 22.
There are 24 homes homes that do not have contracts. 10 of those have surpassed the average days on market. Of those 10, I can say they are either overpriced for comparable homes or perhaps are not in showing condition. I noticed a few have renters currently living in them and sometimes those homes are hard to show. I personally like to recommend that if you are trying to sell a home with a renter living in it, offer the renter some incentive to keep the home in top notch showing condition!
Of the 24 active listings that are not under contract, 8 of those are over $400,000+. We are still seeing that this price range takes a little longer to move.
September showed 14 total homes sold, all which were in Reunion. The average price per square foot above ground was $145. Comparing sales and price per square foot to this same time last year, there were 16 homes sold in September of 2014 but the price per sq foot was $135. Those are great figures if you are considering selling!
The townhomes at Parkside in Reunion still continue to amaze me in pricing. A year ago, a 3 bedroom, 3 bath, 1700 sq ft town home sold for $219,000. This September, the same townhomes are selling for approximately $240,000 !
The “longest on the market” winner in September was a beautiful home that was just listed too high to begin with. It started at $459,000 but in the end, sold at $427,000 with $6,500 to the buyer in concessions!
The “shortest on the market” winner was a home that went under contract on the same day it was listed. It was listed slightly under the average price per square foot and showed like a model home!
In August there were 37 homes sold, compared to the 14 in September. I think the market experienced a temporary slow down in September while families got the kids back in school and wrapped up their summer vacations. Based on the number of “under contracts” (38) I see, I would imagine our sold figures will be back up in October’s report!
It is still considered a sellers market because we still do not have enough homes for sale compared to the amount of people looking to buy due to our economy and low interest rates. However, what I am seeing is the frenzy of multiple offers has died down, so buyers should not be afraid to get out and look!
*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.