Tag Archives: house

Denver Area Market Activity, March 2013

Market Snapshot chart, March 2013

March sales data for the Front Range continues to show strength in the local real estate market.  Supply of homes continues to decrease.  The number of “actives” on the market is down 35% from this time last year, and even down over last month.   Demand is also up over last year (and last month) as indicated by the increase in the percentage sold and under contract.

The number of “pending” sales is down.  In Metrolist (the Denver-area MLS, and source for this data), the “Pending” category is usually reserved to indicate a sales contract that has been accepted, but is awaiting signatures or requires third party approval.  “Pending” might indicate a verbal agreement, but not signature on a bank-owned property.  “Pending” would also indicate a property that is awaiting a lender’s approval for a short sale.

The percentage of Pending properties has decreased since February, and since this time last year.  This could be an indication that there are fewer distressed sales since this time last year (fewer lender-owned and shortsales).

Days on Market (DOM) is down.  Days on Market is the number of days between the listing date and the date the listing goes under contract.  On average, homes are selling nearly 35% faster than this time last year.  Sold prices continue to climb.  For all Single Family homes, the average sold price is up nearly 14% over last year.

What does all this mean for you?

BUYERS:  If you are thinking of buying, don’t wait too long.  Prices are rising, and have been rising nearly every month for the last year.  Be prepared to act when you see a house that will work for you.  There is a lot of competition for homes in this market (there are fewer of them,  and what is there gets snatched up quickly) so be prepared by being pre-approved for a loan before you go out looking.  Being pre-approved will make your offer appear stronger to a seller, and will increase your chances of getting the home.

SELLERS:  If you are selling, be prepared for a relatively quick offer.  Overall, the stats indicate that you should be under contract within 60 days or so.  However, depending on the price range you are in, it could be much faster than that.  Once under contract, expect to close the sale within 30-45 days.

If you have any questions about the market and how it will affect your home buying/selling experience, feel free to  contact me with any questions, using the form below.

* This information is based on information from Metrolist, Inc. for the period (03/01/13) through (03/31/13). Note: This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Real Estate Market Stats for Denver Front Range, February 2013

Snapshot, Feb 2013

The housing market in the Denver Metro Area is still going strong!  The supply of homes for sale is down over this time last year by about 33%.  Demand is up (homes are selling in about ¾ of the time it took last year).  As expected when there is less supply and higher demand, sold prices are also up (11% over this time last year)!

For Sellers this is great news, as the trend means homes continue to re-coup some of the equity they lost after the mortgage crisis of 2007-2008.

For Buyers, the stats indicate that getting a home under contract is getting to be a bit more challenging.  Since there is less supply, there will be more competition among buyers for the homes that are available. And the “good ones” (and even some not so good ones) will be snatched up by those buyers who are ready to place an offer quickly, and those who have their financing in order.

 If you are thinking of selling your home, contact me!  I will give you a free market analysis and customized staging tips to help you determine the best price for the current market and help you get your home sold as quickly as possible!

If you are thinking of buying, I can help you get prequalified with a reputable and knowledgeable lender, so that when we find your perfect home, you will be able to make a strong offer, with the highest chance of getting the home you want- at the right price!  And please, take advantage of my offer to have your own free, automated, customized search results delivered to your email box each morning!  No need to spend time searching on your own and sifting through the same listings day after day!  Check out the “Search for Properties” Tab at the top of this page for more information!  Or contact me using the form below for a confidential consultation!

Sales Activity in The Ranch & Ranch Reserve, February 2013

Here is the market activity for the month of February 2013.  Nothing sold in February, but plenty on the market and under contract!

 Want to see an estimate of what your house is currently worth?  Enter your address in the form under the “What’s Your Home Worth” tab at the top of this page!  (Of course, this is just an estimate.  For a more accurate valuation, contact me using the form below.  A more personalized estimate will take into account any updates you have done to your home).

The Ranch:  Residential-Detached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$289,900

A / B

3266

2 Story

3

2394 W 119TH Ave

00118

$320,000

A

3616

Tri-Level

4

11224 QUIVAS Loop

MBN17

$334,000

A / B

3457

Tri-Level

5

11261 QUIVAS Loop

MBCDR

$339,900

A / B

5312

1 Story/Ranch

4

11482 Quivas Way

MBD2X

$349,900

A

3542

2 Story

4

11240 QUIVAS Loop

BC001

$349,900

W

3670

2 Story

6

2657 W 118TH Ave

KWR30

$365,000

A / B

3899

2 Story

3

11334 QUIVAS Way

RMW01

$499,900

A

4550

1 Story/Ranch

4

11615 QUIVAS Way

CBR56

$519,900

A

5237

1 1/2 Story

4

11388 QUIVAS Way

KWR80

$675,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$749,900

A

4529

1 Story/Ranch

5

2184 W 116TH Ave

M1842

Total Number of Residential-Detached Listings: 11

The Ranch: Attached Dwelling Listings

Price

Status

SqFt

Style

Beds

Address

Office

$225,000

A

2178

2 Story

2

2229 RANCH Dr

CC123

$319,000

A / B

2302

2 Story

3

11276 RANCH Pl

MBN41

Total Number of Attached Dwelling Listings: 2

 

The Ranch Reserve:  Residential-Detached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$335,000

P

3371

2 Story

4

11655 Decatur Dr

0KWPR

$335,000

A / B

3371

2 Story

4

11655 DECATUR Dr

KWR80

$505,000

A / B

3887

2 Story

6

11403 DECATUR Ct

NEW06

$675,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$750,000

W

5048

1 Story/Ranch

4

2811 W 114th Ct

FRON

$785,000

A

5807

2 Story

5

2877 W 115TH Cir

REM12

$1,099,500

A

5571

2 Story

6

11235 Clay Ct

AFPB

$2,490,000

A

8492

1 Story/Ranch

4

2391 Ranch Reserve Rdg

LLEG

Total Number of Residential-Detached Listings: 8

The Ranch Reserve: Attached Dwelling Listings

Price

Status

SqFt

Style

Beds

Address

Office

$139,900

A

924

2 Story

2

2882 W 119TH Ave

00181

$179,900

X

1838

2 Story

2

2364 RANCH Dr

MBJ8L

$179,900

X

1838

2 Story

2

2364 RANCH Dr

MBJ8L

$179,900

A

1396

1 Story/Ranch

2

2883 W 119th Ave 204

0153B

$182,500

A / B

1396

1 Story/Ranch

2

2883 W 119th Ave 12-201

0RITZ

$205,000

A / B

2550

1 Story/Ranch

2

2877 W 119th Ave 102

0INTV

Total Number of Attached Dwelling Listings: 6

Submit this form for a personalized analysis of your home’s value!

Denver Area Real Estate Market Stats for January 2013

Below is a summary of the real estate market statistics for the Denver Metro area for the month of January 2013.  Looks like activity is picking up for Single Family homes (Residences and Condos) after the holidays.   Although the number of houses on the market, and those that closed in January were down compared to December, the number of homes that went under contract in January increased by 43% .

Compared to this time last year, the market is still on the rise.  The number of active listings is down 32% (supply is down), the number under contract is up 27% (demand is up) , the days on market is down 25% to an average of only 78 days (get them while they are hot), and the average sold price is up more than 10% higher over this time last year. 

The Ranch Reserve- Home Sales Activity for November 2012

This is the November 2012 snapshot of the homes sales activity in The Ranch Reserve Neighborhood.

The Status Categories are as follows:  A= Active, A/B= Active, taking backup offers, S= Sold, W= Withdrawn from the market, X= Expired listing.

 

Residential-Detached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$505,000

A

3887

2 Story

6

11403 DECATUR Ct

NEW06

$515,000

S

5561

2 Story

4

11265 Clay Ct

0RLCP

$555,000

S

3773

1 Story/Ranch

4

11278 DECATUR Cir

MBN82

$674,900

A

5017

2 Story

4

2598 W 115th Dr

0KWPR

$695,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

$1,099,500

A

5571

2 Story

6

11235 Clay Ct

AFPB

$1,395,000

A

7198

2 Story

5

2788 W 115th Dr

0CRSS

$1,749,000

W

8274

2 Story

6

2441 RANCH RESERVE Rdg

CBR01

$2,490,000

A

8492

1 Story/Ranch

4

2391 Ranch Reserve Rdg

LLEG

Total Number of Residential-Detached Listings: 9

Residential- Attached Listings

Price

Status

SqFt

Style

Beds

Address

Office

$167,000

X

1317

1 Story/Ranch

2

2899 W 119TH Ave 202

USPRO

$175,000

A

1317

1 Story/Ranch

2

2891 W 119th Ave 203

RMME

$179,000

A / B

2317

1 1/2 Story

2

11557 DECATUR St 8B

00512

$179,900

A

1838

2 Story

2

2364 RANCH Dr

MBJ8L

$189,800

A

1390

1 Story/Ranch

3

2971 W 119TH Ave 101

REM36

$189,900

A

1396

1 Story/Ranch

2

2883 W 119th Ave 12-201

0RITZ

$229,900

A / B

2550

1 Story/Ranch

4

2845 W 119th Ave 102

2HOME

$230,000

A

2178

2 Story

3

2367 W RANCH Dr

MBP4A

$234,888

A / B

2614

1 Story/Ranch

2

2378 RANCH Dr

HET77

Total Number of Attached Dwelling Listings: 9

Prepared By: Joan Bagwell – Dec 12, 2012 10:27:25 AM

Information deemed reliable but not guaranteed. Some properties may be listed by other offices.  Source: IRES, LLC

Please feel free to contact me with any questions you may have about the real estate market or your home’s value.

Home Sales Activity in The Ranch, November 2012

Below, is the home sales activity for the month of November in The Ranch neighborhood.  As you can see, compared to the hundreds of homes in the neighborhood, there is not a lot up for sale.  I take this as a good sign, because low supply means a higher demand for homes, if a buyer were targeting The Ranch as the place they want to live.  Higher demand, should also result in higher prices and shorter time on the market for sellers.

Here are the definitions for the various “status” types:  A=Active, A/B= Active, taking backup offers, Sold= Sold, W= Withdrawn from the market, X= Expired listing.

The Ranch- Sales Activity Residential-Detached Listings

Price

Status

SqFt

Style

Beds

 

Address

Office

$265,650

S

3836

2 Story

4

11402 QUIVAS Way

KWR80

$289,900

A

3616

Tri-Level

4

11224 QUIVAS Loop

MBN17

$289,900

A

2858

Four-Level

3

11892 VALLEJO St

REX01

$294,888

A / B

3296

2 Story

5

11260 RARITAN St

00981

$299,900

A

3266

2 Story

3

2394 W 119TH Ave

00118

$299,990

A / B

3228

2 Story

4

11257 QUIVAS Loop

0034B

$349,900

A

3670

2 Story

6

2657 W 118TH Ave

KWR30

$350,000

X

3063

2 Story

3

1696 W 113TH Ave

KWR80

$354,700

A

3554

2 Story

5

2734 W 119TH Ave

PCO40

$399,999

S

4940

2 Story

7

2666 W 119TH Ave

KWR80

$500,000

W

4940

2 Story

6

11840 Bryant Cir

0KWPR

$509,900

A

4550

1 Story/Ranch

4

11615 QUIVAS Way

CBR56

$600,000

A

4949

2 Story

5

2256 COUNTRY CLUB Loop

CBR18

$653,000

A / B

4867

2 Story

4

11392 QUIVAS Way

CBR56

$695,000

A

5026

2 Story

5

2593 Country Club Ct

FRON

Total Number of Residential-Detached Listings: 15

The Ranch- Sales Activity, Attached   

Price

Status

SqFt

Style

Beds

Address

Office

$189,900

S

2150

2 Story

2

2361 Ranch Dr

WEST02

$229,000

A

2178

2 Story

2

2229 RANCH Dr

CC123

$239,900

A

2614

1 Story/Ranch

3

2133 RANCH Dr

MBN17

$250,000

A / B

2838

1 Story/Ranch

4

11241 WYANDOT St

CBR56

Total Number of Attached Dwelling Listings: 4

Feel free to contact me with any questions you may have about the Real Estate market or your home’s value.

*  The Ranch Sale Activity In November 2012.  Prepared By: Joan Bagwell – Dec 12, 2012 9:42:26 AM.  Information deemed reliable but not guaranteed. Some properties may be listed by other offices. Source: IRES LLC

Pricing Your Home in The Ranch

Pricing your home to sell in The Ranch can be challenging.  Unlike some other, more “cookie cutter” neighborhoods, homes in The Ranch can have huge variances in value.  It is not just a question of valuing common differences, such as the number of bedrooms, bathrooms, finished square feet, etc…  In The Ranch, value also depends on which Filing you are in as well as where you are within that Filing.  For example, a home in Filing 2 that backs to 120th Ave might go for 20% less than a home on an interior lot.  That home in the interior lot could go for 20% less than a similar home that backs to the golf course and has mountain views.  That’s up to 40% less for a location near a busy road versus a similar house, in a location that most people would prefer.

The Ranch also contains a mix of custom homes and “builder grade” homes- which could be located across the street from each other, one street over, or across the fairway.  Differences in building quality and upgrades must also be taken into account when pricing your home for sale.  A home on the golf course in Filing 6 may sell for $400k vs a custom home across the fairway in Filing 4, that might sell for $650k or more.  Some of the valuation difference may be the differences in size, but a lot of it will be due to differences in amenities inside the home, landscaping, upgraded finishes,  and character of the street and neighboring homes, etc…

These factors make it a bit more tricky to place a value on the difference between homes- even for professionals like real estate brokers and appraisers. There are studies done every year that give estimates on the resale value different tangible improvements add to your home. That information should weigh into the calculations for home value.  But those calculations are just value on paper- it does not necessarily translate to a buyer willing to pay more for the house.  Accurately pricing a home is as much an “art” as it is a “science”.   I think the best you can do to get a feel for the value of something less tangible about a home (the feel of the neighborhood, how the house feels and smells inside, the general appeal of the decor, etc), is to see as many houses as possible, track how long it takes them to sell, and what they ultimately sell for.   Most homeowners have only limited public sales information online, and usually only see houses on the inside if they know the seller or are lucky enough to catch an open house on the weekend. Not to mention, most homeowners have jobs that make this kind of pursuit impractical.

As a broker living here in The Ranch, I keep up with the market in our neighborhood through automated notifications from the MLS on the sales activity here.  Each time something new comes on the market, has a price change, goes under contract, or gets sold, I get an email notification.  I do “broker previews” of homes for sale in our neighborhood, so that I can stay on top of the changes in the market.  Yes, it takes a lot of time to do that, but that is part of my full-time job.  And it does give me a good sense of how to objectively place a value on a house (including my own, which can be tough to do).

Research shows that when a home goes on the market, the most activity and attention from buyers occurs in the first two weeks.  That’s the time when there is the most competition between buyers for your home.  It’s the time you are most likely to get an offer close to your asking price (assuming your asking price is at or near market value).  After that point, there is a decrease in the sense of urgency among buyers, fewer showings, and more likelihood of getting low offers.  When I am showing houses, buyers always ask how long the house has been on the market.  The longer it’s been on the market, the lower their offer price will be.

So, it is highly adviseable, when you are thinking of selling your house,that you consult a real estate professional and get an understanding of the current market before setting a price for your home.  This is especially true in a neighborhood like The Ranch where sales prices can run anywhere from $200k to well over a million dollars for a single family detached home. That’s a big range!  It will take some serious research and “comparison shopping” by your agent to figure out a much smaller, more accurate, range where your asking price should be.  Getting that number right when your house first goes on the market gives you the best chance of getting the best price for your home.  You don’t want to miss your 2-week window of opportunity with the most motivated buyers!