indian peaks lafayette co real estate market

Indian Peaks Lafayette Real Estate Market November 2015

The holidays are upon us and the dawn of 2016 right around the corner! However, unlike the weather the Indian Peaks Lafayette CO Real Estate Market for November 2015 is not cooling down. Like we have been saying for a while now, inventory is at an all time low. But what does that really mean? Actually, we are pretty much averaging out now with 21 properties available in 2015, and 25 in 2014, and just 17 in 2013. So low inventory isn’t really big news.

The way that demand can be seen statistically is through the absorption rate. This number is determined in a couple of steps. First, the number of homes available in the market over a 12 month average are added up. They are then divided to find the average number of homes each month for the year. In November of 2013 there were on average 9.25 homes for sale over the previous 12 months, which is then divided by the number of active homes available on the market. In November of 2013 that was 8 giving us about .86 months of inventory. That means that it would take just under one month in 2013 for the market to absorb all of the homes on the market.

In November of 2013 there were about 8.75 homes available over a 12 month average (a decrease from the year before). The active homes for sale at that time were just 6. This brought down the absorption rate to about .7 which was am 18% decrease in the amount of time that it would take for the current real estate demand in the market to absorb all available homes.

In November of 2015 the absorption rate is at just .5 meaning it would take about 15 days, or one half of a month, to absorb all of the current inventory on the market. This is a decrease in the amount of time it would take to sell all the houses (if nothing else came to the market and demand stayed the same) of 41% between 2013 and 2015!

Considering the significant demand its no surprise that we are seeing prices increase dramatically. In general, smaller houses sell for a higher price per square foot then larger houses. However, in November of 2015 we are seeing single family homes in Indian Peaks Lafayette CO real estate market sell for the same price as townhomes at a shocking $201 per square foot! Note in the calculation table below where the stats are listed that I’ve removed the listing from Lark Meadows as its price per square foot is an outlier that I felt skewed the numbers.

What can we expect in the Indian Peaks Lafayette CO real estate market? 

Want to know my predictions for 2016? If the Fed raises interest rates, which is bound to happen sooner or later, I think that its going to create a feeding frenzy in the marketplace. That’s right – I have a feeling that a small hike in the interest rate will get all of the Buyers panicked that we are finally at the end of the lowest of the low interest rates sending them into a buying fury!

If you are a Buyer who is still looking for that perfect home, here is a resource from the National Association of REALTORS. They explain Tips for Battling Against Low Inventory when you are a Buyer. Our team is versed in these strategies and have a few extra up our sleeves as well. There are specific tips that you can use to help Buyers in Colorado and Boulder specifically that are not mentioned here, as well as tools we can implement through social media and more that will help you succeed with a purchase in this market. Call us, we are here to help! 720-465-7005 (direct at the office)

This video is interesting and talks about how the Fed balances the interest rates in our new monetary environment.

Let me know your thoughts about these numbers by commenting below, emailing me at info@trailridge.co or just give me a call at 720-465-7005 (direct at the office). If you think you might consider listing your home in the next 12-18 months now is the time to start preparing and I’ve got information to help you get started.

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NOVEMBER 2015 HOME SALES – Lafayette CO Home Values
Attached Home Sales (Townhomes)
TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
ATD$367,50018302682 Hedgerow Cir$201105%4473/3Indian Peaks Waneka Hedgerow
AVERAGES$367,500$201105.30%447
Single Family Homes
TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$450,00023501515 Greenlee Way$191103%2653/3Anna’s Farm
RES$555,00018048798 Elgin Dr$308100%113/2Lark Meadows
RES$635,00033792453 Lexington St$18898%89353/4Indian Peaks East Lexington
RES$655,00029132481 Lexington St$22599%100744/4Indian Peaks East Lexington
AVERAGES$573,750$201100%5429

Now Under Contract
Indian Peaks and surrounding communities of Lafayette CO
TypePriceSqFtAddressBeds/ BathCommunity
RES$480,00017962522 RAVENWOOD Ln3/3Indian Peaks East Village Green
RES$564,90028122533 Lexington St3/3Indian Peaks East Lexington
RES$575,0003004127 High Country Ct5/4Indian Peaks Waneka Hilltop
RES$599,90039642445 Windrow Ln5/4Indian Peaks Waneka Hedgerow
RES$665,0003250458 Blue Lake Trl4/4Indian Peaks West
RES$675,00041642745 Meadow Mountain Trl3/3Indian Peaks West
RES$710,00030283100 Red Deer Trl4/4Indian Peaks West
RES$819,0004576770 Niwot Ridge Ln5/5Indian Peaks East
RES$610,00039402414 Waneka Lake Trl5/4Indian Peaks Waneks Startlight Ridge
RES$799,90053342224 Tamarron Ln3/3Indian Peaks East
ATD$359,0001998345 Jasper Peak Ct3/3Indian Peaks West
Now ACTIVE & For Sale
in Indian Peaks and surrounding communities of Lafayette CO
TypePriceSqFtAddressBeds/ BathCommunity
RES$447,70023501509 Harvest Dr3/3Anna’s Farm
RES$459,9001999441 King St4/2Grace Mar
RES$524,90031791519 Greenlee Way5/5Anna’s Farm
RES$575,00029153005 Shoshone Trl5/5Indian Peaks West
RES$799,9904116331 Indian Peaks Trl W5/5Indian Peaks West

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