Henderson CO: 2nd Quarter 2016 Market Re-Cap Belle Creek

Henderson CO: 2nd Quarter 2016 Market Re-Cap for Belle Creek

The first half of 2016 has turned out to be full of surprises.  While 1Q started with a bang with 11 closed sales, that number has slowed for 2Q – there have been 7 closed sales.  This is a far cry from 2Q 2015’s number of 18 closed sales.

So, what happened?  Throughout metro Denver, inventory levels have been at record lows.  With fewer house on the market, there will naturally be fewer houses sold.  In addition, sold prices will increase.

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On the other hand, buyers have become more cautious and a lot more selective.  What this means is that, while buyers are willing to pay more than they were a year ago, they want to see the value in their purchase.  Eager sellers have been pushing prices – but buyers aren’t willing to compromise for a home that’s not in top shape.

The Breakdown. There are currently 2 homes available and 6 under contract, including 4 townhomes.  There has been some slowing in time on market; on average, detached homes went under contract after 20 days on market.

Cottage Style Homes. In Belle creek, Cottage Style homes are defined as 2 story homes, between 1190-1550 square feet.  There was only 1 Cottage sold in 2Q.  This one closed for $302,000, or $209/sqft, after 12 days on market.  Both price and Days on Market increased.

Larger Detached Homes. Larger model home sales decreased slightly, with 2 such homes closed in 2Q, compared to 3 in 1Q.  While days on market increased in this sector, prices also increased to an average of $334,500, or $148/sqft.

Town Homes. The biggest gains were seen in  townhouse sales.  There were 4 closed sales, after an average of only 11 days on market.  Average sale price was $196,750, or $162/sqft.

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