Indian Peaks September 2016 Real Estate Update

indian peaks, lafayette co, september real estate statisticsThe average days on market shot up in Indian Peaks for August to being 61 days for a listing to come to the market, move through the contract process and ultimately close. That is a 34% increase in the time on market month over month. Between August and May or June when there was an average of 12-17 days on the market. This is an 80% difference in the time it has taken to sell a home.
The change in temperature has been the talk of the town among agents who are wondering if we are moving towards a more balanced market. That would be when neither buyer nor seller has an advantage. However, I have been watching trends for years now and notice that this increase in the days on market is pretty normal for the summertime.
For example, in 2015 the months of March and April it took on average 39-46 days to close a single family home in Indian Peaks. However, through the summer months that went up to being about 60-63 days on market, which was an 35% increase in the time it took to sell a home through the summer of 2015.
The same thing happened in 2014 where we were cruising through the spring at just 39-46 days on market. Then we hit the May / June / July / August time frame and the days on market went as high as 83 days to complete a real estate transaction.
So when considering all of the 3 past summers it is apparent that while the temperatures warm up through the summer months, the real estate market cools down.
Historically, the trend has been for an increase in demand a bit in the fall with days on market falling. For example, in 2014 and 2015 the days on market for the fall was hovering around 50-55 days. This reflects approximately a 15% increase in demand over the summer.
Then in the early months of the year demand starts to get hot again. In 2015 March and April saw days on market dip as low as 46-39 days to complete a real estate transaction. In 2016 these months saw about 51-65 days on market from list to close.
Therefore, it would seem that our lukewarm market is a seasonal trend that should be followed by increased demand as we finish out the year. It is also likely that we will see another strong spring sales market. I feel confident that will be the case because of the unseasonably low inventory that will not recover overnight. I also don’t foresee the interest rates taking any larger hikes such as grater than .24%. It would take an interest rate of 1% or more to make a significant change in consumer buying power. In fact, if there is a .24% increase in the interest rate I predict it would increase demand at least in the short term as home buyers get scared that its the last of the great interest rate.
If you are thinking about listing your home for sale now is the time to give me a call and start planning your strategy. I have suggestions on how you can prepare the home for sale with staging as well as updates to maximize your return in a timely manner. That way you can meet the demand of the early spring market getting your home listed before the wave of inventory in the later months of spring. It also helps ensure that you are not listed over the summer, which has historically been a slower time of year for real estate sales in Indian Peaks.
I’m looking forward to your call! Leanne Goff 720-465-7005

Contact Leanne Goff

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Indian Peaks Neighborhood Lafayette

The Indian Peaks Neighborhood of Lafayette CO is known for being one of the exclusive communities to live in throughout Boulder County. Click to read more. 
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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.  

September 2016 HOMES SOLD

Single Family Homes

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
RES$490,0002168345 Lodgewood Pt$22698%443/3Indian Peaks East
RES$610,00033322450 Lexington St$18399%123733/3Indian Peaks East Lexington
RES$640,00029382508 Lexington St$218109%6464/4Indian Peaks East Lexington
RES$514,00022092540 Lexington St$233102%5563/3Indian Peaks East Lexington
RES$650,00049912423 High Lonesome Trl$13096%57305/4Indian Peaks Waneka
RES$661,00050121433 S Larkspur Ct$13298%56114/4Cross Creek
RES$640,00033422750 Prairie Ridge Ct$192107%3764/4Cross Creek
RES$1,315,00053342858 Shoshone Trl$24794%50126/5Indian Peaks West Customs
RES$465,00020701523 Greenlee Way$225100%5044/4Annas Farm
RES$410,00023921403 Harvest Dr$17196%56242/5Annas Farm
AVERAGE$639,500  $196100%5518 

Attached Home Sales (Townhomes)

TypePriceSqFtAddress$ per SqFt% SALES to LISTDays On MarketDays Till ContractBeds BathCommunity
ATD$430,0002424656 Beauprez Ave$177106%4143/3Indian Peaks East
ATD$406,0002016380 Fern Lake Ct$201100%7872/5Indian Peaks West
ATD$400,0001830246 Rendezvous Dr$219101%61213/4Indian Peaks South
AVERAGE$412,000  $199102%6011

Now Active

TypePriceSqFtAddressBeds/ BathCommunity
RES$650,00014409062 Baseline Rd4/2Indian Peaks
RES$1,500,00069802424 Bitterroot Cir6/6Indian Peaks East
RES$1,649,50075602389 Indian Peaks Trl6/8Indian Peaks East
RES$550,0002796339 Lodgewood Pt3/3Indian Peaks East
RES$875,0004306543 Sawtooth Pt6/4Indian Peaks East
RES$1,250,00055162431 Targhee Pt5/6Indian Peaks East
RES$675,00042402319 High Lonesome Trl6/4Indian Peaks Waneka
RES$659,0002700842 Applewood Dr3/3Indian Peaks West
RES$554,9002714487 Blue Lake Trl4/3Indian Peaks West
RES$775,0004047328 Caribou Pass Cir5/4Indian Peaks West
RES$1,150,0003892900 Sunny Way5/4Indian Peaks West
RES$1,075,00057072830 Shoshone Trl6/5Indian Peaks West Custom
RES$1,400,00053532854 Shoshone Trl5/5Indian Peaks West Custom
ATD$409,5001824817 Beauprez Ave3/3Indian Peaks East Lexington

Now Under Contract

TypePriceSqFtAddressBeds/ BathCommunity
RES$465,00028682683 Indian Peaks Trl4/2Indian Peaks East
RES$557,50027742946 Shoshone Trl4/4Indian Peaks West
RES$550,00037271430 S Larkspur Ct3/3Cross Creek
RES$1,230,00079042412 Bitterroot Cir4/4Indian Peaks East
RES$735,00038771356 Northpark Dr5/4Indian Peaks East
RES$649,0003250352 Caribou Pass Cir4/4Indian Peaks West
ATD$400,0001977163 Rendezvous Dr3/3Indian Peaks South
ATD$375,00016002057 N Fork Dr2/3Indian Peaks Waneka
ATD$389,60018362713 Hedgerow Cir2/3Indian Peaks Waneka Hedgerow
ATD$370,0001747524 Homestead St2/3Annas Farm
ATD$415,0001852521 Mills St3/2Annas Farm
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