Indian Peaks Real Estate Stats April 2017

Indian Peaks Real Estate Stats April 2017

This month in Indian Peaks we have had an interesting start to the season. Inventory is definitely back up with 16 single family homes available to purchase, and only one that was sold in the month of April. Last month there were only 8 homes so inventory has almost doubled with the coming of spring.

Of the homes that are actively available on the market there are only two that come in below a $600,000 list price. That means that of the 16 homes available 80% of the homes will require a jumbo loan (or a large down payment) from the Buyer to purchase. This requirement narrows the number of qualified Buyers to purchase the property.

There are 7 homes available for Buyers to choose from that are listed between $600,000-$900,000 make up about 43% of the market. Of these homes, 3 of them have been on the market for over a month and 4 are new as of April.

April brought a 3 new million dollar plus homes to the market for a total of 6 custom homes available for Buyers to choose from. Its great to see the confidence of Sellers who now feel that the market has returned for their luxury homes. It’s easy to see why their confidence is growing with 3 homes under contract and 3 sold in this category through April, with an average price of $1,200,000. However, inventory has doubled in this category since February giving more choices for the Buyers in this segment.

It will be interesting to see how the Buyers respond to the choices and if price adjustments will be made to accommodate for the extra inventory. It would seem that these homes need to be very careful with the price per square foot so that they can be competitive in the market and entice the Buyers. Nine of these homes are currently listed for more than $200 per square foot with six of them over $210 for total square foot. There are four homes that are perched above $220 per square foot, which might be a bit high considering the inventory.

Because there is such a large inventory of premium homes which require specialty jumbo loans, my advice to Sellers would be to go through your home with a fine toothed comb. Bring in the contractors and handymen to refine things in your home. For starters, make sure that the wood floors are puttied and don’t have cracks, check the paint to make sure that there aren’t scruffs and that it looks fresh, consider replacing the carpet and deep clean everything (including windows! In the premium market the Buyer doesn’t want to feel like they need to move in and do updates. It’s my bet that the prettiest houses will win by obtaining Buyers first.

For information about how to prep your home for sale so that you can obtain the best return in with the shortest time on the market, please contact me directly. I have an 18 plan that I can share with you to give you ideas for refining your home and getting it ready for sale.

Leanne Goff 720-465-7005 leanne@trailridge.co  

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Leanne Goff

Click to learn about Leanne Goff. She has been a Boulder County REALTOR since 2007. Her priority is to help Sellers achieve the highest return on their investments in a timely manner.  

Contact Leanne Goff

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TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$835,0003884793 Snowbird Ln$215102%56103/3Indian Peaks Eagles Nest
RES$975,00057072830 Shoshone Trl$17198%69106/5Indian Peaks West
RES$1,130,00055822086 Navajo Trl$202100%123566/6Indian Peaks East
RES$1,520,00069802424 Bitterroot Cir$218100%54116/6Indian Peaks East
AVERAGE$1,115,000  $202100%7622  
TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
ATD$393,5001578113 Rowena Pl$249102%3873/4Indian Peaks Hedgerow
AVERAGE$393,500  $249102%387 
Now Under Contract 
TypePriceSqFtAddressBeds/ BathCommunity
RES$634,90026272725 Meadow Mountain Trl4/4Indian Peaks West
RES$865,0004306543 Sawtooth Pt6/4Indian Peaks East
RES$1,297,00059041284 Lost Creek Ln6/6Indian Peaks East
RES$1,390,0006526789 Niwot Ridge Ln4/5Indian Peaks East
RES$475,0001883561 Hoyt Ln5/5Indian Peaks South
RES$544,9002512170 High Country Dr5/4Indian Peaks Hilltop
RES$895,00038432290 Eagles Nest Dr5/4Indian Peaks Eagles Nest
Now Active
TypePriceSqFtAddressBeds/ BathCommunity
ATD$389,0001772638 Beauprez Ave2/3Indian Peaks East – Lexington
ATD$435,0002056131 Salina St4/4Indian Peaks Gold Hill
RES$569,9002572370 Rendezvous Dr3/4Indian Peaks Village Green
RES$629,00033322561 Lexington St4/4Indian Peaks Lexington
RES$645,00029042842 Cascade Creek Dr4/4Indian Peaks South
RES$720,0003168300 Morning Star Ln5/4Indian Peaks East
RES$725,00034552843 Twin Lakes Cir5/4Indian Peaks South
RES$729,90034552847 Clear Creek Ln4/4Indian Peaks South
RES$749,0003770364 Morning Star Ln4/4Indian Peaks East
RES$895,00044572206 Eagles Nest Dr6/4Indian Peaks Eagles Nest
RES$1,149,00046732829 Shoshone Trl6/4Indian Peaks West
RES$1,150,00055162431 Targhee Pt5/6Indian Peaks East
RES$1,195,0005854718 Skywalker Pt4/4Indian Peaks West
RES$1,250,0006460794 Niwot Ridge Ln5/5Indian Peaks West
RES$1,370,00053532854 Shoshone Trl5/5Indian Peaks West
RES$1,397,00056832444 Bitterroot Cir5/6Indian Peaks East

Indian Peaks March 2017 Real Estate Update

 Indian Peaks March 2017 Real Estate Update

This month throughout Indian Peaks we have seen the average price jump due to a higher priced sale in Eagle’s Nest. The median price is hovering around $569,000 which is a 5% increase since the beginning of the year.

For the past two months the average price per square foot has been at $225 in February and $218 in March. This is very strong compared to the dip that was taken throughout the fall and winter months when from July through December the average was only $184. We had been discussing the effect that the election had on prices through those months and now we can see that the Buyers are back with the spring time.

It’s interesting to note that the market through the fall months was at 0.98, meaning it would take less than one month for market demand to absorb all inventory if market conditions stayed the same and no more inventory came to the market. Since the beginning of the year the absorption rate has dipped a bit to 0.8 months of inventory, which is very similar but shows the increased demand (like the price per square foot) but in a different format.

For specific details about what your home is worth in this market, please contact me directly at 720-465-7005 or email me using the contact form on this page. Even if you are not thinking of selling for a year or two but would appreciate a market snapshot specific to your home, I’m available with no obligation. Looking forward to your call!

Leanne

March 2017 HOMES SOLD

Single Family Homes

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$504,0001883518 Hoyt Ln$268104%664/4Indian Peaks South
RES$505,0002170573 Hoyt Ln$23398%994/4Indian Peaks
RES$530,00023652310 Waneka Lake Trl$22493%38164/4Indian Peaks Waneka
RES$539,9002796339 Lodgewood Pt$193100%5323/3Indian Peaks East Village Green
RES$645,00029492954 Shoshone Trl$219103%6364/4Indian Peaks West
RES$561,0003004133 High Country Trl$18799%5073/4Indian Peaks Waneka
RES$920,0004477769 Snowbird Ln$205101%3226/5Indian Peaks East Eagle Nest
AVERAGE$600,700  $218100%367  

Now Under Contract 

TypePriceSqFtAddressBeds/ BathCommunity
RES$1,150,00055822086 Navajo Trl6/6Indian Peaks East
RES$1,297,00059041284 Lost Creek Ln6/6Indian Peaks East
RES$1,390,0006526789 Niwot Ridge Ln4/5Indian Peaks East
RES$815,0003884793 Snowbird Ln3/3Indian Peaks East Eagle Nest
RES$639,00026272725 Meadow Mountain Trl4/4Indian Peaks West
RES$1,500,00069802424 Bitterroot Cir6/6Indian Peaks East

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$865,0004306543 Sawtooth Pt6/4Indian Peaks East
RES$1,150,00055162431 Targhee Pt5/6Indian Peaks East
RES$1,250,0006460794 Niwot Ridge Ln5/5Indian Peaks East
RES$629,00033322561 Lexington St4/4Indian Peaks East Lexington
RES$544,9002512170 High Country Dr5/4Indian Peaks Waneka
RES$1,149,00046732829 Shoshone Trl6/4Indian Peaks West Custom
RES$1,370,00053532854 Shoshone Trl5/5Indian Peaks West Custom
RES$1,000,00057072830 Shoshone Trl6/5Indian Peaks West Custom
leanne goff

Leanne Goff

Click to learn about Leanne Goff. She has been a Boulder County REALTOR since 2007. Her priority is to help Sellers achieve the highest return on their investments in a timely manner.  

Contact Leanne Goff

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indian peaks neighborhood

Indian Peaks Neighborhood Lafayette

The Indian Peaks Neighborhood of Lafayette CO is known for being one of the exclusive communities to live in throughout Boulder County. Click to read more. 

Blue Heron March 2017 Real Estate Update

Blue Heron March 2017 Real Estate Update

More great activity in Blue Heron – two homes quickly came on the market and found buyers quickly.  2528 Cowley was listed last fall and didn’t find a buyer but this spring, listed at $809,950 ($154/sf), a buyer snatched up this 6 bedroom, 4 bath home quickly at full price.  The other under contract home is 2527 Columbine Circle, listed for $899,000 ($177/sf) and had 3 offers within the first few days on the market.  However, this is a fickle market and many deals have fall apart, often due to the urgency buyers feel to new listings.  After a month on the market, this lovely home on a half acre lot, is under contract and set to close soon.

1767 Casey Court reduced the price to $1.095M but is now withdrawn from the market.
This leaves one last, beautiful home that is still available.  2544 Cowley Drive is listed for $859,900 ($173/sf) has terrific curb appeal and a main floor master.  The basement is unfinished but could easily be completed to add recreation room or another bedroom and bathroom.  Layout is great with the master on the main level with a 5-piece bathroom and fireplace in the room and then up the stairs leads to a landing that connects to the two large bedrooms that share a jack and jill bathroom.  To see photos or get more information visit www.BlueHeronForSale.com or you can contact Libby Boyd for a private showing.

Now Under Contract 

TypePriceSqFtAddressBeds/ BathCommunity
RES$899,00050902527 Columbine Cir4/5Blue Heron
RES$809,95052722528 Cowley Dr6/4Blue Heron South

 

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$859,90049632544 Cowley Dr4/3Blue Heron South

Contact Libby Boyd

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Libby Boyd

Click to learn about Libby Boyd. She focuses mainly on the “L”s, Lafayette, Longmont and Louisville and specializes in the Blue Heron and Indian Peak neighborhoods.

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Blue Heron Estates

Blue Heron Estates Lafayette is a gated community known for its luxurious and spacious homes on sprawling lots and large, mature trees. Click to read more! 

Blue Heron February 2017 Real Estate Update

Blue Heron February 2017 Real Estate Update

The real estate market for the Blue Heron neighborhood in Lafayette Colorado. View the houses that are active and under contract. No homes have sold in the month of February in Blue Heron. Contact Libby Boyd for more information.

Now Under Contract 

TypePriceSqFtAddressBeds/ BathCommunity
RES$899,00050902527 Columbine Cir4/5Blue Heron
RES$809,95052722528 Cowley Dr6/4Blue Heron South

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$1,145,00055641767 Casey Ct5/5Blue Heron Estates
RES$875,00049632544 Cowley Dr4/3Blue Heron South
libby boyd

Libby Boyd

Click to learn about Libby Boyd. She focuses mainly on the “L”s, Lafayette, Longmont and Louisville and specializes in the Blue Heron and Indian Peak neighborhoods.

Contact Libby Boyd

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Lafayette Neighborhoods

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Anna's Farm

Click to read about the Anna’s Farm neighborhood. It’s made for energy efficient and comfortable living with unique house styles.

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Indian Peaks Neighborhood Lafayette

The Indian Peaks Neighborhood of Lafayette CO is known for being one of the exclusive communities to live in throughout Boulder County. Click to read more. 
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Blue Heron Estates

Blue Heron Estates Lafayette is a gated community known for its luxurious and spacious homes on sprawling lots and large, mature trees. Click to read more! 

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Cross Creek

Click to read about the Cross Creek neighborhood. It’s Lafayette’s hidden gem in a quiet pocket adjacent to open space and fields.

Indian Peaks February 2017 Real Estate Update

Indian Peaks February 2017 Real Estate Update

For all homes in East County that have sold since April 2014 I found the following data on the price per square foot:

​The price per square foot in 2014 was about $205 on average. The price today is about $235 per square foot today which is about a 15% appreciation in value over 2 years. Note that it is difficult to compare the sold price in an ‘apples to apples’ situation because of how vastly different the homes can be in size. It was really all over the board to compare the final sales price. I feel like the price per square foot helps break down the differences in size.
Then when we do the same graph specific to Lafayette, this is what is found:
​The price started around $185 per square foot and is now hovering around $200 per square foot. This is about an 8% appreciation in value.
All of this is nice, but how do things look in Indian Peaks? I think this is important to look at because (for example) Blue Heron is notoriously behind Indian Peaks in the price per square foot (by about 25% consistently)
So for Indian Peaks specifically:

​The price per square foot started around $180 in 2014. Now it is hovering around $205 per square foot. This represents almost 14% appreciation in 2 years.

For the Indian Peaks neighborhood it is easier to compare the average sales price, since the homes are overall more consistent in size and construction. The average price in 2014 appears to have been around $910,000 and now its reflecting around $1,050,000 – again, this is about a 15% increase in 2 years.
SOOOO— the big question is how does this information fare against the smaller homes in Indian Peaks. Using the data that we consistently collect for our statistics updates, I was able to compile the following graphs. These are based on all homes with <4999 sq ft on a quarterly basis.

The price per square foot on a quarterly average was about $166 in the first quarter of 2014. In the last quarter of 2016 it was about $192 per square foot. This is about 15.5% average increase in 2 years.

​Looking at the quarterly average sales price for homes <4999 in Indian Peaks we can see that in the first quarter of 2014 the average linear average is showing a price of $575,000. The average sales price in the final quarter of 2016 is about $670,000. This is about a 16.5% appreciation in value since 2015.

The data suggests that over the past 2 years the larger homes have been tracking pretty closely in appreciation to the smaller homes throughout Indian Peaks.
My impression of the future of our market includes a few things:
  1. If interest rates go up, the pressure from Buyers will likely decrease causing the drastic appreciation in value to slow for all homes and property types.
  2. The marijuana money in the marketplace is having a significant impact. I am seeing and working with people who have LOTS of pot cash who are using the money to buy property outright. I don’t see an end to this in the future and believe it will have a continued effect on the accelerating prices in the marketplace.
  3. The Baby Boomers are retiring and transferring their wealth to their heirs. This transference of wealth has just started and I foresee it continuing for the next 5-7 years, possibly longer. I don’t see an end to this in the immediate future and believe it will have a continued effect on the accelerating prices in the marketplace.
  4. Google is coming… need I say more? I’m sure that you anticipate the wave of wealth this will bring to our area. I don’t think all the Google’ers will be coming and buying million dollar homes. In fact, I see them as families who earn about $100,000-$150,000 annually. Therefor, I foresee most of the Google employees moving here and buying the littler homes allowing people (like yourselves) to move up into the larger homes. This will help drive the $1m+ category of homes in a way that we have not seen over the past 10 years.
  5. Not just people from Google are establishing here. There is a mass migration into our state at this time that is going to continue to drive people into the smaller homes, and those of us who are established into the larger ones.
Of the 5 items driving the marketplace I foresee one of them as likely to slow the market and all the others to continue to drive the market. I don’t get the impression these things will change any time soon.
leanne goff

Leanne Goff

Click to learn about Leanne Goff. She has been a Boulder County REALTOR since 2007. Her priority is to help Sellers achieve the highest return on their investments in a timely manner.  

Contact Leanne Goff

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Trails at Coal Creek by Meritage

Trails at Coal Creek by Meritage

Trails at Coal Creek by Meritage  Trails at Coal Creek is conveniently located off of hwy 287, just south of South Boulder Road and north of Hwy 42. The development is separated into two separate sides – on the South side of the Coal Creek is the most expensive Alpine...

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Indian Peaks Real Estate

Click here for the Indian Peaks real estate market. 
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Indian Peaks Neighborhood Lafayette

The Indian Peaks Neighborhood of Lafayette CO is known for being one of the exclusive communities to live in throughout Boulder County. Click to read more. 
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Lafayette CO

Click to read about the connected community events and artistic endeavors… 
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Indian Peaks Tie-Dye Party

Click to look at the pictures from the Indian Peaks Tie-Dye Party. You will also see who won the fundraising contest. 

February 2017 HOMES SOLD

Single Family Homes

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$525,0002358330 Cliffrose Cir$223100%5033/3Indian Peaks East
RES$537,88822322544 Lexington St$241102%2734/4Indian Peaks East Lexington
RES$610,0002872610 Indian Peaks Trl W$212102%774/3Indian Peaks West
AVERAGE$518,222  $228102%328

Attached Home Sales (Townhomes)

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
ATD$400,0001698222 Rendezvous Dr$236104%44172/3Indian Peaks Waneka Hedgerow
AVERAGE$400,000  $236104%4417

Now Under Contract 

TypePriceSqFtAddressBeds/ BathCommunity
RES$569,95023652310 Waneka Lake Trl4/4Indian Peaks Waneka
RES$625,00029492954 Shoshone Trl4/4Indian Peaks West
RES$569,0003004133 High Country Trl3/4Indian Peaks Waneka
RES$915,0004477769 Snowbird Ln6/5Indian Peaks East
RES$1,150,00055822086 Navajo Trl6/6Indian Peaks East
ATD$390,00018982600 Stonewall Ln2/3Indian Peaks Waneka Hedgerow
ATD$419,5001900412 Blue Lake Trl3/2Indian Peaks West

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$559,9002512170 High Country Dr5/4Indian Peaks Waneka
RES$650,0003835388 Driftwood Cir3/3Indian Peaks Waneka
RES$875,0004306543 Sawtooth Pt6/4Indian Peaks East
RES$1,184,00055162431 Targhee Pt5/6Indian Peaks East
RES$1,297,00059041284 Lost Creek Ln6/6Indian Peaks East
RES$1,370,00053532854 Shoshone Trl5/5Indian Peaks West Customs

Indian Peaks January 2017 Real Estate Update

Indian Peaks January 2017 Real Estate Update

Monthly statistics for the Indian Peaks neighborhood in Lafayette Colorado.

indian peaks east custom home

With the turn of the year from 2016 to 2017 we have seen the market turn as well. Last fall and winter things were stalled out. As you may recall I hypothesized that it was due to the election. Now that we have moved through the end of 2016 the beginning of the year has been heating back up! It is distinctly back to a Seller’s Market.

In January of 2017 there were six single family homes that sold throughout Indian Peaks, and one of them closed for $1,495,000. The address is 2389 Indian Peaks Trail. This large home has been the most expensive home to sell throughout our neighborhood since 2007 when a house on Bitterroot closed for $1,532,000.

The home that sold this year, 2389 Indian Peaks trail, was 7,560 square feet in size with 6 bedrooms and 8 bathrooms. The price per square foot for this large, beautiful home was finalized at $194 per square foot. The last home of its size sold in 2015 at 1293 Lost Creek Lane for $183 per square foot. This marks a 6% increase in price per square foot for a home of its size over two years. Considering the closed price of Lost Creek at $1,423,333 vs the sold price of Indian Peaks Trail at $1,465,000 the price growth was about 3%.

For the more average size homes throughout Indian Peaks there were 5 homes that sold. This is an increase from November and December when we saw only 3 homes sell per month. Year over year this is about the same as January of 2016 when 4 homes sold. There are only 2 homes that were active on the market through the month of January. One of the homes has 67 days on the market and the other has 146 active days on the market, and it is priced about $800,000. Of the homes that have sold the average days on market is about 51 days from list to close. That would indicate that the two homes still active on the market need a price adjustment.

Townhouses throughout Indian Peaks continue to sell aggressively. There were three that were active in the marketplace throughout January of 2015 and two that sold. The price per square foot on average was $214, which is consistent with the month before. The 6 month average of price per square foot for a townhouse in Indian Peaks is about $219. The average price is $387,000 over 6 months. This month it took just 37 days to close a townhouse in our neighborhood. That means they generally go under contract within a day or the first weekend after going live on the market. The reason for this is because they are fantastic homes for first time home buyers to become established in our community. Investors also appreciate the price and rent-ability of these homes making demand for them very intense.

For more information about the potential value of your home in this market, please contact me directly, Leanne Goff.  

 

leanne goff

Leanne Goff

Click to learn about Leanne Goff. She has been a Boulder County REALTOR since 2007. Her priority is to help Sellers achieve the highest return on their investments in a timely manner.  

Contact Leanne Goff

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January 2017 HOMES SOLD

Single Family Homes

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$398,50014801997 S Fork Dr$269100%48112/3Indian Peaks Waneka
RES$499,0002296570 Hoyt Ln$217100%7153/3Indian Peaks South
RES$460,0002350638 Homestead St$19696%56103/3Annas Farm
RES$580,0002833409 Blue Lake Trl$205101%69104/4Indian Peaks West
RES$710,0004047328 Caribou Pass Cir$17595%123565/4Indian Peaks West
RES$634,00041182425 Waneka Lake Trl$15495%54115/3Indian Peaks Waneka
RES$1,465,00075602389 Indian Peaks Trail$19488%323126/5Indian Peaks West Customs
AVERAGE$656,643  $20996%6716

Attached Home Sales (Townhomes)

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
ATD$379,9001824817 Beauprez Ave$208100%3873/3Indian Peaks East Lexington
ATD$400,0001825578 Beauprez Ave$219101%3533/4Indian Peaks East
AVERAGE$389,950  $214101%375

Now Under Contract 

TypePriceSqFtAddressBeds/ BathCommunity
RES62500029492954 Shoshone Trl4/4Indian Peaks West
RES99800057072830 Shoshone Trl6/5Indian Peaks West Custom
RES4850001883518 Hoyt Ln4/4Indian Peaks South
RES5150002170573 Hoyt Ln4/4Indian Peaks South
RES52500022322544 Lexington St4/4Indian Peaks East Lexington
RES6000002872610 Indian Peaks Trl W4/3Indian Peaks West
ATD$390,00018982600 Stonewall Ln2/3Indian Peaks Waneka Hedgerow

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$479,00014409062 Baseline Rd4/2Grace Mar
RES$569,9002512170 High Country Dr5/4Indian Peaks Waneka
RES$619,0002700842 Applewood Dr3/3Indian Peaks West
RES$1,150,0003892900 Sunny Way5/4Indian Peaks West
RES$875,0004306543 Sawtooth Pt6/4Indian Peaks
RES$1,145,00055641767 Casey Ct5/5Blue Heron Estates