Another weekend with temps in the 70’s…won’t have too many more of these! Enjoy it. If you’re in the market for a Stapleton home this will be a good weekend to get out check out your options.
In our weekly update on the Stapleton market I’ll cover the latest active, under contract & sold listings. We’ll also hit on “North End”, Stapleton’s last neighborhood, where home construction is now underway, and touch on a few changes we’re noticing in the market lately. Let’s get to it..
This week Stapleton had 6 new listings that hit the market. Pretty slow volume of new homes but that’s fairly typical for this time of year. (and will probably stay that way through the holidays)
Of the new listings, the Thrive resale in Central Park North at 3564 Yosemite St, listed by Courtney Ranson with Perry & Co, is one of my favorites. This plan has been one of their best sellers for a long time. The main level is largely open concept (kitchen/living room/informal dining room) but still provides a great home office or kids play room as well as a formal dining room for special occasions. Upstairs you’ll find 3 bedrooms and then a 4th in the finished basement. The home faces west onto a green space across the street and is an easy walk or bike ride to the light rail station and the future Sprouts grocery store. Plus I love the white kitchen, the bold yellow backsplash (why not?) and the well-finished outdoor space out back. At $750k this one is priced right based on similar recent sales and should sell this weekend in my opinion.
If you’re interested in the KB paired homes series but you don’t want to wait for new construction check out the new listing Mariel Ross from our team just listed at 8176 E 53rd Drive. Listed at $475,000, this 3 bed/2.5 bath home has everything you need with the opportunity to finish the basement the way you want. Quick possession is also available on this one, which is nice if you want to be in before the holidays. Check out the 3D tour here.
Not finding what you’re looking for in these new listings? Don’t forget about new builds in Stapleton’s last neighborhood, “North End”! Our featured picture at the top of this post is of the first few homes being built in that area. Just because homes are starting to go up doesn’t mean they haven’t been selling for a while already. The builders have been selling for months in that new area so some home series are already running low on lots. To stay on top of North End check out HomesInNorthEnd.com. You can sign up there and we’ll keep you posted on builder releases & area news every few weeks.
9 Stapleton homes went under contract this week. Is the market slowing like you’ve been reading in the news lately? Yes, in some respects it has in my opinion. Well priced homes that show well are still selling but on average they’re selling in about 30 days on the market, not in the first weekend as they were before. (note: Only 2 of the 9 homes that went under contract this week did so in the first weekend…that used to happen on about 50% of the sales) Why have homes been taking longer to sell? Inventory is still low so we haven’t seen prices dropping, but the increase in both interest rates and home prices over the last few years have combined to diminish the pool of eligible buyers that can purchase a home. (did your income keep up with the pace of home prices?)
So, what are some quick take aways for buyers and sellers relative to these changes we’re seeing in the market? For buyers, know where you stand when making offers. If the home has been on the market a long time (over a month) and you have a few home options you’d be happy with then you may have some leverage to negotiate on price. (whoever has more options typically has control) For sellers, it’s critical that you price the home based on the comparable sold home prices. When you had 3 offers you could push the pricing above the recent sold comps and get away with it but right now you really need to price it similarly to what others have sold for recently. (Side note: Many people say prices have gone down but from what I see price drops are happening on homes where sellers go way too aggressive on their asking price. The price didn’t go down, the seller just started with a very unrealistic price to begin with. Ok I won’t go down that rant too far…) These are just a few take aways to keep this brief, we’re happy to chat with you one on one about your personal situation if you have questions.
11 Stapleton resale homes closed in the last 7 days. Curious what they sold for? That’s normal…go ahead and snoop around a bit in the link above.
Stapleton has a total of 48 total active resale listings. (In addition these 48 resale listings here are 13 builder “spec” homes you should know about!) With 48 resale homes available that’s just over one month’s worth of inventory based on the current sales pace, so sellers still maintain most, but not all, of the control in the market. (a more “balanced” market would be 4-6 months of inventory.)
I like the Infinity “Vive” home that’s for sale at 6101 Chester St in Beeler Park. It’s on a corner lot, has a nice South facing patio, it’s across the street from an awesome pocket park, it has an amazing open concept layout on the main level and an upper level that features 4 bedrooms and a loft!
If anything catches your eye and you’d like help please reach out. Amy, Mariel and I at Focus Real Estate all live in Stapleton with our families and built our homes here. We’re part of the community and happy to share what we’ve learned with you so you can find the home that best suits your needs. Thanks for checking out the Scoop!
Disclaimer: Our Friday real estate updates are meant to be a “roundup” type post where we discuss all listings in Stapleton, not just our own. It’s our way of making sure we follow the market closely and we share it with the Scoop readers because we know many of you like to track real estate in the area as well. Many of the listings in these posts are not our company’s listings and we wanted to mention that here to make sure it’s clear. Thanks for reading the Scoop!