Indian Peaks saw five single family houses sell in June and two townhouses. The homes were selling at 101% of list price after just 30 days on the market. This shows that the houses that came online at market value and closed quickly. The absorption rate climbed slightly to almost one month of available inventory. That is the highest its been in a year (May of 2015). That is likely influenced by the few houses that are still sitting active and available for purchase throughout the month of June.

The available inventory is only about 33% of the total market. Everything else is under contract or sold. Total for under contract and sold is close to 56% of the entire market. However, a greater amount are under contract at 48% showing that the houses that came to them market at value were quickly gobbled up by the anxious buyers.

Price per square foot took a slight dip since last month on the single family homes to be $196 instead of $200 per square foot. However, the average and median prices also increased showing that the larger homes are selling. Therefore the slight decrease in the price per square foot is understandable. For the attached homes the price per square foot shot up to $237 per square foot! This is in line with the previous month when a townhouse also sold (February) and the price was $239 – is this the new standard for an townhouse in Indian Peaks? Seems to be!