The Indian Peaks community is such a lovely and highly desirable area. Homes in this area set the gold standard of values for the City of Lafayette CO. However, the days on market went up 57% this month! That means that last month it was taking about 26 days for a home to go under contract and in April took 41 days. This statistics has been on a steady climb since January, when it took just 7 days for a home to go under contract in Indian Peaks.

So why could that be?! Its all coming back to the price per square foot. That also has to be weighed in with the condition of the home. There have been some homes on the  market that have been aggressively pushing the $200 price per square foot starting off much higher and without much draw inside. If a home is going to charge a premium price per square foot it had better be able to represent with a fantastic layout and gorgeous finishes. The market isn’t going to respond to an extremely high price when the home itself needs a complete overhaul! However, there have been some Sellers who are banking purely on location feeling that their home will sell no matter what, and its not happening. Therefore the days on market and days until contract are increasing in Indian Peaks. However, we are seeing there there are plenty of homes that are selling rather quickly. These are going when the price per square foot is at or below $200, depending on the condition.