Indian Peaks November 2016 Real Estate Update

indian peaks real estate updateIt’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

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.  

Contact Leanne Goff

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November 2016 HOMES SOLD

Single Family Homes

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$720,00048662689 Trailridge Dr$148101%12654/5Indain Peaks
RES$619,0003954441 Indian Peaks Trl W$157100%3665/4Indain Peaks West
RES$645,00040982319 High Lonesome Trl$15799%58276/4Indian Peaks Waneka
RES$575,00037271430 S Larkspur Ct$154105%6163/3Cross Creek
AVERAGE$661,333  $154101%7011

 

Attached Home Sales (Townhomes)

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
ATD$355,0001568803 Beauprez Ave$226100%4132/3Indain Peaks East Lexington
AVERAGE$355,000  $226100%413

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$875,0004306543 Sawtooth Pt6/4Indian Peaks
RES$1,649,50075602389 Indian Peaks Trl6/8Indian Peaks East
RES$1,199,00055162431 Targhee Pt5/6Indian Peaks East
RES$1,500,00069802424 Bitterroot Cir6/6Indian Peaks East
RES$665,00041182425 Waneka Lake Trl5/3Indian Peaks Waneka
RES$639,0002700842 Applewood Dr3/3Indian Peaks West
RES$998,00057072830 Shoshone Trl6/5Indian Peaks West Custom
RES$1,400,00053532854 Shoshone Trl5/5Indian Peaks West Custom
ATD$379,9001824817 Beauprez Ave3/3Indian Peaks East Lexington
ATD$360,0001568823 Beauprez Ave2/3Indain Peaks East Lexington

Now Under Contract 

TypePriceSqFtAddressBeds/ BathCommunity
RES$397,50014801997 S Fork Dr2/3Indian Peaks Waneka
RES$474,9002600186 High Country Dr2/5Indian Peaks Waneka
RES$575,0002833409 Blue Lake Trl4/4Indian Peaks West
RES$538,9002714487 Blue Lake Trl4/3Indian Peaks West
RES$749,7004047328 Caribou Pass Cir5/4Indian Peaks West
RES$480,00020792930 Shoshone Trl3/4Indian Peaks West
RES$500,0002296570 Hoyt Ln3/3Indian Peaks South
ATD$409,50020162438 Concord Cir4/4Indian Peaks East Lexington
RES$478,0002350638 Homestead St3/3Anna’s Farm
RES$685,00045081445 S Larkspur Ct5/4Cross Creek

 

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