Belle Creek Monthly Market Minute February 2016

by Jennifer Prestwich REALTOR®, YCRE

Home Sales in Belle Creek settled down in February.  There were 3 closed sales for the month of February, which included 2 town homes.  This is a slight dip over January’s 5 closed sales.

• The turnover rate in Belle Creek for February was 12%.   This number stayed the same when compared to January and December, and is a year-over-year comparison.
• Average Days on Market for all Belle Creek homes is 15.  This number represents the time frame from the day that it is actively listed to the date that the buyer and seller have a signed contract.
• Average Days on Market for Cottage Style homes, under 1600 square feet, was 10 Days.   Home owners with larger homes – 1900 square feet and up –  have been selling in an average of 19 Days on Market.  Again, this is a year-over-year comparison.  These numbers are a slight increase over January.
• Average Sold Price for all homes was $283,792.  The average sold price per square foot for all homes was $171.  These numbers continue to creep upward on average.  Cottage style homes sold for an average price of $262,456, while the larger style homes sold for $298,287 on average.  We continue to see sales in the $300,000 and higher range, and I believe this trend will continue to strengthen in the coming months.
• Town home sales are continuing to comeback.  There were 2 town homes sold in February, with an average of 31 Days on Market.  This higher number is, in part, because one of the town homes sold was bank owned.  Bank owned homes and town homes can take longer to go under contract if the condition of the home is not very nice.  The average sold price was $199,000, or $141 per square foot.

There is currently 1 detached home available in Belle Creek.   There is 1detached home under contract, and 2 town homes under contract.

*It is important to note that these stats are year over year comparisons.

Be sure that if you are selling your property that it is show ready,  move-in ready, and priced properly.    If you have been thinking about making a move, be sure to consult with a Realtor who specializes in your neighborhood.  Every situation is different – so call Jennifer Prestwich  at 720-341-5235 to discuss whether now is a good time to make your move!