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December 13, 2012

Stapleton Real Estate Update Winter 2012

The real estate market has been improving all year and Stapleton’s market is no exception.  With low rates (mid 3% is average right now) and dwindling inventory buyers are eager to make purchases but it’s been tough to find a home that fits their needs.  Ask anyone you know who has been trying to buy a home lately and I’ll bet they have a story about how competitive it was.  The converse is also true, ask any seller lately and they’ll likely tell you they sold it quicker than they thought for probably more than they expected.   Well priced homes are typically sold in the first few weeks and it’s not uncommon for them to be sold in the first few days.  I had several homes recently that were under contract before we even got them into the MLS!  Good to be a seller (finally!), tough to be a buyer.

In Stapleton the inventory is tight for both builders and in the resale market.  (The focus of this post is the resale market but if you want info on what the Stapleton builders have available click here)

There are 13 actively listed single family homes in Stapleton right now.  Considering 13 were sold last month that means there is only one month of inventory.  That’s really low, indicating there are more buyers out there than sellers.  If you’ve been waiting to sell for a few years while the market was slow now, or this spring, may be the time to get a home valuation and see if it makes sense.  I’m happy to value your home for free and there is no obligation.  Ok, enough pitching my services.  The homes that were sold in the last month have been sold typically in 18 days and people are on average getting 98% of their asking price.  Again, these are indications of high demand and low supply.  The median sold price/sf is $220/sf and the median sold price/finished sf (which includes finished bsmt sf) is $187/sf.

The condo market is a little slower, which is typical.  (By condos I mean all attached homes including condos, townhomes, paired homes and carriage houses).  That is a lot of different housing types to lump together so keep in mind that every home is unique and has its own value.  There are 19 condos actively listed in Stapleton with a median asking price of $202k.  Keep in mind that carriage houses are likely holding that median price down, most attached homes in Stapleton are more than $202k.  In the last 31 days only 3 condos have sold and it typically takes them 32 days to sell which is quite a bit longer than the single family homes but still not bad at all.    The median sold price/sf is $195/sf.

So what do these stats mean to you as a potential buyer or seller in Stapleton?  I think the takeaways are inventory is really low and buyer demand is high…so sellers can aim towards the higher end of the realistic range and likely get it.  It also means their home may sell quickly so they need to be ready to move quickly.  For buyers, this means you need to have an agent that is familiar with the area and can act quick.  Yes, of course I’d love that to be me but even if it’s one of the other Stapleton brokers its a good idea to have someone on your side.  (For a video series on every step of the buying process click here)  You’ll need to be ready to see homes the day they hit the market, be pre-qualified and be ready to write an offer that same day.  I know that sounds like a rushed decision but that’s what it is taking for buyers to get the well priced homes.  See a lot of homes so you’ll know the right one when you see it and you’ll have the confidence to act.

If you or someone you know wants to buy or sell a home I’d love to help.  Curious about how buying a new home works….click here to watch a video series on buying and building a new home in Stapleton!

Joe Phillips – Synergy Real Estate Team – (720) 545-9003 – joe@synergyret.com

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