Henderson CO: Belle Creek Monthly Market Minute July 2013

Belle Creek Monthly Market Minute July 2013 by Jennifer Prestwich REALTOR®, YCRE

 

 

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Home Sales in Belle Creek were back with a bang this spring.  Even though the inventory shortage in the Denver Metro -and especially in Henderson CO – area was slight relieved by the normal summer increase in sellers, it remains very low.  Up until very recently, the Days on Market were less than 30.  Home sellers were finding themselves in the unique position of moving out of their former property less than 2 months after putting it on the market!

  • The turnover rate in Belle Creek for July was 8.86%.   This is another jump over the months of June and July’s 8.6%, and a quantum leap over July 2012’s 6%.  These numbers do reflect the natural increase in the market that happens in the warmer months during both years, but 2013 is a much better sales market than 2012 in all respects.
  • Average Days on Market for all Belle Creek homes is 25.  This number has been steadily decreasing.  This number held steady throughout the summer months thus far, with May and June’s DOM holding at 30 days.  There is often a “final push” in real estate sales just before school is set to start, which I believe accounts for the drop in days in July.  We are already starting to see a bit of slowing, with current under contract homes having a DOM around 40.
  • Average Days on Market for Cottage Style homes, under 1600 square feet, was 27 Days.  This is a decrease over June, which saw cottages going under contract in an average of 39 days. Home owners with larger homes – 1900 square feet and up –  have been selling in an average of 22 Days on Market, a marked decrease over June’s 76 average DOM.
  • Average Sold Price for all homes was $207,215.  The average sold price per square foot for all homes was $128.  These numbers are still strengthening in Belle Creek.  Cottage style homes sold for $130 per square foot, while the larger style homes sold for $125 a square foot, on average. (These are all Net Sold prices)  Even though we are still seeing distressed properties listed, this number is continuing to increase.

There are currently 11 homes under contract in Belle Creek, and 4 available (this does not include the dirt-start Oakwood inventory).  For the first time in several years, larger homes are outpacing cottage style homes for how quickly they are going under contract.  Price point continues to be extremely important, yet buyers with higher budgets are seeing the value in Belle Creek.  increase in inventory.

I believe we will still see prices increase in Belle Creek.  I also think we will see some slowing of the market as people concentrate on back-to-school time.  This will likely mean a few more days on market for those wanting to sell.

Buyers are taking their time a bit more when looking for a home.  Be sure that if you are selling your property that it is show ready – and move-in ready.    If you have been waiting to make a move, now might be the perfect time.  Every situation is different – so call Jennifer Prestwich  at 720-341-5235 to discuss whether now is a good time for your move!

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