Currently there are 7 active listings, which is more than the previous month. The homes that are on the market are staying on the market for more amount of days than previous months. The average PPSF of the current listings is $211 which is common for the area. The properties that are currently active have an average CDOM of 49 which tells me that the market is cooling off a bit this last month.
In the month of August there were 3 properties sold. The average CDOM was 14 with an average PPSF of $215. Out of the 3 properties that sold, two of them were two bedrooms and one of them was a four bedroom and looks like two of them were on the market for 2 weeks. What makes some of these homes desirable is the affordable prices for the amount of square footage.
The sold data tells me that in the later summer months the market has begun to cool off a bit. Properties are staying on the market longer than in the Spring and earlier Summer months. I predict that the market will pick up again in the following months of the year. Right now is a time where families are still getting their kids settled in school and adjusting to the new school year. I think in the next month or so the market will pick up again.
Now would be a great time to buy before the market picks up again as you will probably have less competition and a better chance of having more options!
*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.