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January 2016 Market Update for Secrest Sub Areas

Aimee Quaratino Front Q4

Only 3 listings that are active and 9 under contract, Which again shows that the “Sellers” Market is alive and well! The sellers market of low inventory is not going away soon. Secrest Sub area values are up up up!

Price are increasing fast, especially homes in the 1800-2500 sq foot price point with finished basements, 1-2 car garage etc.

Buyers are not picky! They will buy a Secrest home for top price even if it doesn’t have a garage.

The highest price home that sold in December sold at $340,000, There are a lot of fix and flips, cash purchased on older ranch homes for under 230k then the investors are remodeling and loading these homes up and selling for around $350,000 profit.

10 homes sold in the month of December and sold in 14 days. Last year these homes sold less the 5 days but prices were averaging 275k.

As a trend or average, Ranch homes not updated or remodeled in good condition are selling around $230,000-$275,000 then homes semi updated homes are selling around $275,000-$300,000.

Desirable homes in Secrest fall into 2 category’s

1) The totally remodeled home in the low $300,000 price points 1500-2500 finished Sq feet

2) The low priced Ranch Fixer Upper in the mid $250′s… Need a lot of work and these attract the cash investor buyers.
Demand is still very high especially in Arvada, because of the Olde Town Arvada light rail, restaurants, eateries, pubs etc, So Secrest sub area is desired… The Supply is still very low considering there are only 3 homes available in this area. This equals a Sellers market and Sellers have more control of offers, negotiations etc.

Predictions are 2016 will continue to be a Sellers market, Low inventory and possible overbids on those special beautiful well priced homes.
Market prices might stay steady or rise a small amount.

Aimee Q K – Employing Broker 8z Real Estate Arvada

*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.

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