Westminster CO: Home Farm Real Estate ReCap 2012

Home Farm is in the fortunate situation not to have many distressed property sales.  Nearby neighborhoods in the same price range have experienced a more significant price drop due to distressed inventory sales.   While there is some short sale activity, individual sellers are the norm in Home Farm.  This is part of the reason why Home Farm’s resale values continue to remain strong.

The Breakdown: Seasonal slowing was evident in 4Q 2012.  In 4Q, there was only 1 home sold.  This is fairly normal as many would-be home sellers will opt to wait to sell their home until after the rush of the holidays when given their preference.  In fact, the home that did sell went under contract in September, and closed in October.  What is especially notable is that this home went under contract the very first day on the market.  It is obvious that buyers are looking for clean, well maintained homes – the net sold price per square foot was $159.
In 3Q 2012, 9 Home Farm homes were sold.  These went under contract after a very short time on average – 33 Days on Market.  The average net price per square foot in 3Q was $156.  What this tells us is that Home Farm homes have been holding their value fairly well for 2012.  The only dip in value came in 2Q, when the average sold price per square foot of the 6 sold was $148, after an average 64 DOM.  This higher DOM is, in part, due to the fact that there was some short sale activity in that time period.
How Does This Compare to 2011?  In the last half of 2011, there was a bit of bank-owned inventory, which pulled down the overall sale values.  In 4Q 2011, there were 7 homes sold, coming in at a slightly depressed average of $140 per square foot, after 106 Days on Market.   

Sold price per square foot has remained fairly steady overall, as evidenced in the chart below:

Clean, well-maintained homes will always command the highest prices.  Of the homes most recently sold or put under contract, the ones that sold the fastest were those that were in top shape.  Consulting with a home stager may be one of the best investments you can make when listing your home, however the simple act of thoroughly deep cleaning and de-cluttering can do wonders.  There are plenty of buyers these days who are able to spend more on a home that doesn’t need fixing up, so be sure to stay on top of those maintenance chores.

The Bottom Line: Buyers get it, and they are more willing to pay for the value they see in Home Farm.  While the market did experience a bit of slowing that is a natural effect of the holiday season, those who are out looking are more ready to buy than in past years.
Inventory is extremely low in Home Farm –  if you have been waiting to make a move, now might be the perfect time.

Remember that every situation is unique in this regard. Be sure to consult with a REALTOR who specializes in the neighborhood when you consider selling.

 

 

 

 

 

Welcome Home-take a look inside to explore the Home Farm Real Estate Market


Tennis, Swimming, Parks, Trails: Home Farm is more than a community – it’s a lifestyle

 

 

What’s Inside This Issue:

About Home Farm……………………….3

Real Estate FAQs: What Are Concessions?…………….3

Sold Data for 4th Quarter 2012……………………..2, 4

Current Real Estate Activity in Home Farm …………………2

 

 

 

 

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