Throughout the Indian Peaks community real estate market in October 2016 we saw 22 houses move through the contract process. Five of these homes move through to final sale and 5 are under contract. This means that about 45% of the homes were unavailable for purchase and just over 54% were active on the market for sale. This is similar to what we saw in August as well showing a slight softening in the overall market. 
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...
Indian Peaks November 2016 Real Estate Update
Indian Peaks November 2016 Real Estate Update
It’s that time of year when things slow down as people change their focus from buying a new home to hosting the holidays in their current ones. For example, there were only 3 single family homes sold in November throughout Indian Peaks. This is down from the peaks in April, July and August when 7 single family homes were sold throughout the community.
We are also seeing a significant decrease in the price per square foot this month. This is the lowest of the past 12 months at $154 per square foot. That is a 6% price drop since November of 2015. The high for the season was $200 per square foot in May, which is a 23% drop compared to this month.
People throughout the industry have been asking why there has been such a slow down in the market, when inventory is still very tight. The theory that I have heard and see logic in is that the uncertainty from the election has created a fear in the future economy among the Buyers. This has created a softer fall market then would otherwise be expected. However, as the new cabinet appointees are assigned there seems to be a more clear understanding of the policy ahead. This should help give confidence to Buyers in the coming months.
What is my prediction for next spring? I’ve been reading about how mortgage applications have increased, and possibly from a fear of higher interest rates, as you can read in this article from the Seattle Times. It’s hard to predict if the higher rates will spark more demand. The National Association of REALTORS says that it is expecting a slower market in their 2017 national housing forecast due to higher interest rates. Is this the end of the Seller’s market in Colorado – or will the lack of inventory and potential rise in interest rates create another aggressive selling season in 2017? That is what we will find out!
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.
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November 2016 HOMES SOLDSingle Family Homes | |||||||||
| Type | Price | SqFt | Address | $ per SqFt | % SALES to LIST | Days On Market | Days Till Contract | Beds Bath | Community |
| RES | $720,000 | 4866 | 2689 Trailridge Dr | $148 | 101% | 126 | 5 | 4/5 | Indain Peaks |
| RES | $619,000 | 3954 | 441 Indian Peaks Trl W | $157 | 100% | 36 | 6 | 5/4 | Indain Peaks West |
| RES | $645,000 | 4098 | 2319 High Lonesome Trl | $157 | 99% | 58 | 27 | 6/4 | Indian Peaks Waneka |
| RES | $575,000 | 3727 | 1430 S Larkspur Ct | $154 | 105% | 61 | 6 | 3/3 | Cross Creek |
| AVERAGE | $661,333 | $154 | 101% | 70 | 11 | ||||
Attached Home Sales (Townhomes) | |||||||||
| Type | Price | SqFt | Address | $ per SqFt | % SALES to LIST | Days On Market | Days Till Contract | Beds Bath | Community |
| ATD | $355,000 | 1568 | 803 Beauprez Ave | $226 | 100% | 41 | 3 | 2/3 | Indain Peaks East Lexington |
| AVERAGE | $355,000 | $226 | 100% | 41 | 3 | ||||
Now Active | |||||
| Type | Price | SqFt | Address | Beds/ Bath | Community |
| RES | $875,000 | 4306 | 543 Sawtooth Pt | 6/4 | Indian Peaks |
| RES | $1,649,500 | 7560 | 2389 Indian Peaks Trl | 6/8 | Indian Peaks East |
| RES | $1,199,000 | 5516 | 2431 Targhee Pt | 5/6 | Indian Peaks East |
| RES | $1,500,000 | 6980 | 2424 Bitterroot Cir | 6/6 | Indian Peaks East |
| RES | $665,000 | 4118 | 2425 Waneka Lake Trl | 5/3 | Indian Peaks Waneka |
| RES | $639,000 | 2700 | 842 Applewood Dr | 3/3 | Indian Peaks West |
| RES | $998,000 | 5707 | 2830 Shoshone Trl | 6/5 | Indian Peaks West Custom |
| RES | $1,400,000 | 5353 | 2854 Shoshone Trl | 5/5 | Indian Peaks West Custom |
| ATD | $379,900 | 1824 | 817 Beauprez Ave | 3/3 | Indian Peaks East Lexington |
| ATD | $360,000 | 1568 | 823 Beauprez Ave | 2/3 | Indain Peaks East Lexington |
Now Under Contract | |||||
| Type | Price | SqFt | Address | Beds/ Bath | Community |
| RES | $397,500 | 1480 | 1997 S Fork Dr | 2/3 | Indian Peaks Waneka |
| RES | $474,900 | 2600 | 186 High Country Dr | 2/5 | Indian Peaks Waneka |
| RES | $575,000 | 2833 | 409 Blue Lake Trl | 4/4 | Indian Peaks West |
| RES | $538,900 | 2714 | 487 Blue Lake Trl | 4/3 | Indian Peaks West |
| RES | $749,700 | 4047 | 328 Caribou Pass Cir | 5/4 | Indian Peaks West |
| RES | $480,000 | 2079 | 2930 Shoshone Trl | 3/4 | Indian Peaks West |
| RES | $500,000 | 2296 | 570 Hoyt Ln | 3/3 | Indian Peaks South |
| ATD | $409,500 | 2016 | 2438 Concord Cir | 4/4 | Indian Peaks East Lexington |
| RES | $478,000 | 2350 | 638 Homestead St | 3/3 | Anna’s Farm |
| RES | $685,000 | 4508 | 1445 S Larkspur Ct | 5/4 | Cross Creek |
The average days on market shot up in Indian Peaks for August to being 61 days for a listing to come to the market, move through the contract process and ultimately close. That is a 34% increase in the time on market month over month. Between August and May or June when there was an average of 12-17 days on the market. This is an 80% difference in the time it has taken to sell a home.
The Indian Peaks community has had a total of 26 properties move through the real estate process in August. That is holding steady since June and July. The number was a bit higher in May, which is one of the busiest times in the market so should be expected.
