Indian Peaks Lafayette Real Estate Market December 2015

indian-peaks-real-estate-market-Dec15b

The month of December reflected a typical holiday season in real estate with a slight decrease in demand. That being said, the decrease is relative. It’s still very much a Seller’s market!

The inventory has been holding pretty average throughout the year with between 23-26 homes in the market each month (with the exception of August when there were just 19 houses active, under contract or sold). The softening in demand can be seen in the absorption rate, which was about .69 in December. To contract, in June the absorption rate was just .27 which both mean that it would take less than 1 month for the market to absorb all available homes.

So as you can see the difference between .27 and .69 is still less than 1 month so demand is still very strong! However, the difference can be felt by Sellers who are listed in the month of December. Instead of receiving multiple offers over the first weekend of list, they might only see one. That could also explain why the percent of list to sold is at 99% this month (instead of 100% or more).

Considering this Seller’s market it is important to note when pricing a home for sale is not responsible for the Seller to pick the price out of thin air. What I mean is that the Seller still needs to meet the market with a price that is enticing. If the Seller chooses a ‘pie in the sky’ price the market won’t be fooled and will respond rather coldly. This can be seen throughout the community as Sellers price homes at the ceiling of market value during a month with slower demand. Now those homes are sitting waiting for an offer.

When a Seller meets the market the property will sell within a weekend, maybe two. If the house hasn’t sold after 10 showings or 10 days then it’s overpriced. The vast majority of the market has seen the price and did not make a move. Then it is up to the Seller to make a strong move lowering the price to meet the next wave of Buyers in the market. Ideally this should happen with one swift blow with a $10k-$20k price reduction, depending on the value of the home.

By then the home should be priced to sell and it will be very apparent when that value is met. The reason I say this is because my experience in this market shows that if you are at market value, then you will be standing in a virtual hurricane of demand. Once the market knows that there is a value it’s like you stuck your finger in an electrical socket! When this happens it’s likely a Seller will have an offer within days.

However, if the Seller doesn’t make a significant price reduction and rather chooses to do tiny incremental price reductions, this is looked at with suspicion. The longer a home sits and the more price reductions it has the more the market looks with wonder about why the house hasn’t sold. This is especially true in our market. If this happens it’s highly likely that the home will ultimately sell for less than it’s actually worth, which is a tragedy.

For information about what your home value in this market, please contact me. I’m happy to provide you a valuation with no obligation. Even if you aren’t thinking of moving, give me a call. It’s always interesting to see more detail from a professional then just what Zillow has to say.

Call me anytime, I’m here to help. 720-465-7005 / leanne@TrailRidge.CO

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DECEMBER 2015 HOME SALES – Lafayette CO Home Values

For communities of Indian Peaks, Anna’s Farm and the close in communities 

Attached Home Sales (Townhomes)

Type

Price

SqFt

Address

$ per SqFt

% SALES to LIST

Days On Market

Days Till Contract

Beds Bath

Community

ATD$369,0001998345 Jasper Peak Ct$185100%3953/3Indian Peaks West
AVERAGES
$369,000
 
 
$185
100%
39
5
 
 

Single Family Homes

Type

Price

SqFt

Address

$ per SqFt

% SALES to LIST

Days On Market

Days Till Contract

Beds Bath

Community

RES$560,0003004127 High Country Ct$17797%62275/4Indian Peaks Hilltop
RES$580,00028122533 Lexington St$239103%4033/3Indian Peaks East / Lexington
RES$590,00039402414 Waneka Lake Trl$17997%48225/4Indian Peaks Hilltop
RES$667,82541642745 Meadow Mountain Trl$18699%62313/3Indian Peaks West
RES$670,0003250458 Blue Lake Trl$206101%6564/4Indian Peaks West
RES$717,82530283100 Red Deer Trl$150101%6564/4Indian Peaks West
RES$775,00053342224 Tamarron Ln$16097%63203/3Indian Peaks East
AVERAGES
$651,521
 
 
$185
99%
58
16
 
 

Now Under Contract Indian Peaks and surrounding communities of Lafayette CO

Type

Price

SqFt

Address

Beds/ Bath

Community

RES$447,70023501509 Harvest Dr3/3Anna’s Farm
RES$480,00017962522 RAVENWOOD Ln3/3Indian Peaks East / Village Green
RES$529,90030022533 Concord Cir3/3Indian Peaks East / Lexington
RES$1,150,00048142834 Shoshone Trl5/5Indian Peaks West Custom
RES$819,0004576770 Niwot Ridge Ln5/5Indian Peaks East
ATD$360,00015682472 Concord Cir3/4Indian Peaks East

Now ACTIVE Indian Peaks and surrounding communities of Lafayette CO

Type

Price

SqFt

Address

Beds/ Bath

Community

RES$459,9001999441 King St4/2Grace Mar
RES$465,0002912765 Furrow Way3/3Anna’s Farm
RES$524,90031791519 Greenlee Way5/5Anna’s Farm
RES$575,00029153005 Shoshone Trl5/5Indian Peaks West
RES$760,0004566408 Lone Eagle Pt4/4Indian Peaks East
RES$774,50044382849 Crater Lake Ln4/4Indian Peaks South
RES$789,0004116331 Indian Peaks Trl W5/5Indian Peaks West

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