Right now there are 20 active listings on the market in the South Lemay neighborhoods. Of those active listing 6 are currently under contract, leaving 14 homes still to be sold!
Average Days on the market is 44
Average Price/Sq.f.t at $132
We are seeing most kitchens updated with granite or comparable stone, stainless steel, and more outdoor living additions before homes are put on the market.
In August, we had 14 listings sell in South Lemay:
Average sales price of $547,414 with only 51 days on the market.
In comparison to this same time last year 13 homes sold in the month of August, with an average sales price of $343,731, 112 days on the market.
This shows that the $500k+ market has been on the move this summer!
There are some definite division lines between neighborhoods in South Lemay. Homes range per subdivision as follows:
$275-$375,000 Pelican Ridge
$175-$500,000 Stanton Creek
$575-$800,000 Lemay Avenue Estates
We have a little more inventory this time of year, so for the Buyers that had made multiple offers with no success now is you time to strike! With the threat of interest rates rising, I highly recommend a serious consideration of finding a home before the year is out.
Sellers should make the extra effort to stage homes, update kitchens, and baths to get the most out of this Sellers market. It could be difference between multiple offers and over asking price bids, as well as a home selling with much less time on the market!
*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.