Active inventory remained stagnant from October to November of 2015. There are only 18 listings currently active as compared to the 20 active at the same time last month. Unfortunately, many of these active listings are the same ones that were present in October. Prices have remained fairly stable over the past month with many listings receiving price adjustments as opposed to competing offers.
Here is the breakdown of sold homes in November 2014 vs. 2015
November 2014: 7 total sold with a median price of $352,000
November 2015: 10 total sold with median price of $412,500
This is the time of year where activity in the local market slows a bit based on typical seasonal trends. There are currently 8 properties for sale in the greater Eisenhower area (For a detailed view of these listings including all photos, virtual tours and more, visit: http://www.IRESis.com/cwa/link/?llid=wsm4wn). Note: For someone looking to move at years end there are a few good options!
The days on market this quarter into the 1st quarter of the new year tends to go up a few weeks and sometimes even a month. This is typical as there are less buyers and the holidays tends to see buyers go into temporary hibernation. After the first of the year I anticipate buyers jumping back into the market and w
Our neighborhood currently has 9 active homes on the market as of Dec. 7th. The average listing price per finished square foot is $184/psf. As predicted, we are seeing a typical slow down with the holidays in full gear. The large home on Indiana Street is still on the market due to the large lot and square footage of the home. This home is listed at $1.7 million. It has been on the market for 150 days and has not had a price decrease. I’m still keeping an eye on 6426 Zang Ct. It was under contract on Oct. 26, but is now back on the market- totaling 154 days total. It also already went through a few price drops in the summer and the previous listing expired.
There was only one active listing on University Hill going into December – a triplex with – 949 Broadway St. There were five listings under contract going into December on University Hill. Only one of these six listings came onto the market in the month of November. However, three of the six listings went under contract in November. The average number of days until an offer was received for all of the listings currently under contract on The Hill, with the exception of the income property, is 5.2 days.
There were no properties that closed in the month of November on The Hill.
To compare last November to this November:
- Three listings sold last November compared to none this November
There are currently 6 active residential listings in the Chautauqua neighborhood, including one that was a new listing in November. There are 2 additional listings that are under contract. The new listing is 1920 Bluebell and is listed at $1,890,000 which is $629 per sq foot.
The six active listings range in price from $1,799,000 to $3,995,000 with an average price per square foot of $594.
Two homes sold in the month of November in the Chautauqua neighborhood. The homes that sold were located at 502 18th Street and 1492 Columbine. They sold for $750,000 and $1,824,000 respectively. The average days to offer was 9 days.
There continues to be a trend that homes under $1,000,000 are going
In mid November, there were 55 active listings in Reunion and Buffalo Mesa. 35 of which are already under contract! The average price per square foot on active listings is approximately $154 which is right in line with October’s recorded sales.
Of the 20 homes that are waiting for buyers, there are a few that are simply trying to push the market too much and are overpriced. One listing in particular has been on the market for over 120 days and has not had one price decrease.
October closings showed a little more activity than September with 18 homes closing in the Reunion/Buffalo Mesa. Average days on the market decreased down to about 20. Average price per square foot on homes sold
Cherry Creek Market Update on 11/18/15
You’ve experienced the first little blizzard for the winter, cooler weather is upon us – traditionally – this is the time of year when the real estate market begins to cool as well.
However, before we flip into 2016, there are a few not...
Currently there are 9 active properties on the market in West Colfax. The average CDOM is 48 and the average price is $350,244. The average price is typical for this area but the average CDOM for October is a little higher than normal for this area. This is probably due to the normal slow down of the fall/winter season. The highest priced property is $600,000 which is a little high for this area and the lowest priced property is $189,900.
There is a property on the market for $600,000. That price is a little high for this area. It has been completely remodeled and has beautiful finishes therefore it has a higher price point but again, it is more typical to see those prices in Sloans Lake, and Jefferson Park.
During the month of October there were 4 properties sold. The average CDOM was 1
Currently, there are 22 active listings in Renaissance, Meadow Mountain and Portico. The majority of the actives are new construction scheduled to be built in the coming year. 11 active listings are already under contract. There are more like 8 true active listings.
The current inventory is more expensive ranging in price from $468,000 to $2,100,000. There is only 1 current active listing under $400,000 – 1671 Venice Ln, which is a 2 bed, 3 bath townhome priced at $352,900. It went under contract in 5 days.
October produced 6 sales in the community. The low sold price was $370,000, the high sold price was $950,000, and the average sold price was $540,583. The 6 sales closed after an average of only 40 days on market.
Overall, I see strong demand across the board here. It
Seasonality, this Autumn we are seeing a more typical seasonality in the Golden Real Estate Market for the first time since the frenzied market began a couple years ago. Although Days on Market (DOM) have increased a bit due to the school season, the holidays and the cooler weather…we are still experiencing an active market with some buyers taking advantage of the still low interest rates before they go up. In addition, with a bit more inventory, there’s a few more options out there to choose from. As always, the sales price has to be right and we are seeing many of the current listing’s listing high, then reducing before going under contract. Please feel free to call me anytime with any questions about the market and/or to discuss our current market conditions!