Indian Peaks Real Estate Stats May 2017

indian peaks lafayette coHere comes the summer and with it a slow in the marketplace. This has been something we have talked about consistently over the past few years. About the time June hits the spring market slows down and the Buyers thin out.

The inventory in Indian Peaks virtually the same as it was in May of 2016. However, the days on market has increased from 53 to 93 days to close a real estate transaction from list to sold. That is a 56% increase in the days on market! The absorption rate also shows the slowing in demand from one month of inventory in April and May of 2015 to over 2 months of inventory available today. The part that is strange about this is that we are seeing the slowing in demand through April and May, which is before the historic decline in demand when we normally see a slower June.

One thing that makes me think that demand is slowing is that prices are increasing to a point that make them more difficult for the average buyer to obtain. The homes that are still active on the market are pushing over the $600,000 mark. This is making it imperative that a home coming to the market has its best foot forward in order to entice the Buyer. That is more than simply being clean. Things like updates need to be considered. Considering the following updates is crucial to entice a Buyer to offer on your home. Some things to consider might be:

  • Flooring – is it dated? Could the wood floors be restained with a new more modern color, or are they the honey oak color? This color is out of style and turns off Buyers.
  • Trim – is it over painted, or dinged up? Its probably time to upgrade to a tall, flat plank.
  • Cabinets – are they the original McStain (which have likely yellowed like the floors)? This is a big deal to Buyers who want to move into a home and not worry about making updates. Do you price the home for a new kitchen, or do you replace the kitchen? These are serious questions.
  • Carpet – if the carpet is older than 5 years it is likely that it needs to be changed before selling.
  • Bathroom fixtures – if they are gold they are not in style anymore. These are easy fixes that don’t break the bank.
  • Ceiling fans and chandeliers – are they the original ones McStain put in with the house? If so, they should likely be updated.
  • How old is the roof? Many throughout the neighborhood are coming due for replacement.
  • Do you have any energy efficiency features that Buyers might be interested in such as solar, upgraded insulation, high efficiency furnace and air conditioner or new windows? These are popular with Buyers who don’t want to move into an uncomfortable home that is expensive to heat and cool.

Its best to do these updates slowly over time so that your budget isn’t overwhelmed by the to-do list. Call me and we can discuss a 24 month timeline for doing these updates slowly. I even have advice on getting some rebates for the energy efficiency items.

Leanne 720-465-7005

 

 

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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May 2017 HOMES SOLD

Attached Home Sales (Townhomes)

Type

Price

SqFt

Address

$ per SqFt

% SALES to LIST

Days On Market

Days Till Contract

Community

ATD$393,5001578113 Rowena Pl$249102%245Indian Peaks Gold Hill
ATD$465,0002056131 Salina St$226107%274Indian Peaks Gold Hill
AVERAGE$429,250  $238105%265 

Single Family Homes <4500

Type

Price

SqFt

Address

$ per SqFt

% SALES to LIST

Days On Market

Days Till Contract

Community

<4500$535,0002512170 High Country Dr$21398%154120Indian Peaks Hilltop
<4500$634,90026272725 Meadow Mountain Trl$242100%333Indian Peaks West
AVERAGE$584,950  $22799%9462 

Single Family Homes >4500

Type

Price

SqFt

Address

$ per SqFt

% SALES to LIST

Days On Market

Days Till Contract

Community

>4500$1,255,00059041284 Lost Creek Ln$21397%7233Inidna Peaks East
>4500$1,370,0006526789 Niwot Ridge Ln$21099%513Indian Peaks East
AVERAGE$1,312,500$21198%6218

Now Under Contract 

Type

Price

SqFt

Address

$ Sq ft

Beds

Baths 

Community

ATD$389,0001772638 Beauprez Ave$22023Indian Peaks East – Lexington
<4500$619,00033322561 Lexington St$18644Indian Peaks Lexington
<4500$865,0004306543 Sawtooth Pt$20164Indian Peaks East
<4500$880,00044572206 Eagles Nest Dr$19764Eagles Nest
<4500$569,9002572370 Rendezvous Dr$22234Indian Peaks Village Green
>4500$1,397,00056832444 Bitterroot Cir$24656Indian Peaks East
>4500$1,195,0005854718 Skywalker Pt$20444Indian Peaks West

Now Active

Type

Price

SqFt

Address

$ Sq ft

Beds

Baths 

Community

ATD$530,0002462238 Rendezvous Dr$21534Indian Peaks Hedgerow
<4500$629,00028922253 Evening Star Ln$21754Indian Peaks East
<4500$677,62530022485 Lexington St$22644Indian Peaks Lexington
<4500$714,90034552847 Clear Creek Ln$20744Indian Peaks South
<4500$720,0003168300 Morning Star Ln$22754Indian Peaks East
<4500$725,00034552843 Twin Lakes Cir$21054Indian Peaks South
<4500$749,0003770364 Morning Star Ln$19944Indian Peaks East
<4500$820,00043842239 Evening Star Ln$18754Indian Peaks East
<4500$834,9003974445 Indian Peaks Trl W$21055Indian Peaks West
<4500$880,00038432290 Eagles Nest Dr$22954Eagles nest
<4500$899,0004010433 Indian Peaks Trl W$22443Indian Peaks West
>4500$998,00046732829 Shoshone Trl$21464Indian Peaks West
>4500$1,370,0004865715 Skywalker Pt$28265Indian Peaks West
>4500$1,370,00053532854 Shoshone Trl$25655Indian Peaks West
>4500$1,150,00055162431 Targhee Pt$20856Indian Peaks East
>4500$1,225,0006460794 Niwot Ridge Ln$19055Indian Peaks East
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