Henderson CO: Belle Creek Monthly Market Minute August 2013

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

 

 

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Home Sales in Belle Creek continue to remain strong.  The inventory shortage that the Denver Metro area – especially in Henderson CO -experienced was slightly relieved by the normal summer increase in sellers.  Days on market increased a bit as many would-be home buyers focused more on end-of-summer activities and back to school time.

  • The turnover rate in Belle Creek for August was 12.3%.   This is the first double-digit turn over rate that Belle Creek has seen in the past 5 years!  What this means is that those home buyers who were out looking earlier in the summer came to successful closing in August.  In fact, there were 9 homes sold in Belle Creek in August alone.  I believe we will see a bit of a lull in September, followed by another increase in October.  This is based on there being 5 properties currently under contract – a “closing” usually happens 30-45 days after a home is put under contract.
  • Average Days on Market for all Belle Creek homes is 34.  This is an increase over July’s number of 25.  As inventory increased slightly, home buyers were taking a bit more time to look at their more numerous options before making an offer.    This number held steady throughout the summer months thus far, with May and June’s DOM holding at 30 days.  As mentioned here last month, 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.  You can see the effects of this in the number of closings in August.
  • Average Days on Market for Cottage Style homes, under 1600 square feet, was 25 Days.  This is another decrease over June and July. Home owners with larger homes – 1900 square feet and up –  have been selling in an average of 26 Days on Market, a marked decrease over June’s 76 average DOM and a slight uptick over July’s 22 DOM.
  • Average Sold Price for all homes was $210,287.  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 $133 per square foot, while the larger style homes sold for $123 a square foot, on average. (These are all Net Sold prices)  Even though we are still seeing a few distressed properties listed, this number is continuing to increase.

There are currently 6 homes available in Belle Creek (this does not include the dirt-start Oakwood inventory).

I believe we will continue to see prices increase in Belle Creek.  I also think we will see a bit of a surge in sold home numbers as back-to-school time winds down.

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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