September 2016 Market News
What’s Happening in the Real Estate Market
In August, 28 single family homes and condos were sold for a total of $12,334,630, which represents three fewer homes than were sold in July, but a higher total sales volume of nearly $2 million. There were many showings and executed contracts in July and August, so expect sales to be higher later in the fall. Three homes sold for over $1mil and the average reduction off list price was 3.8%. Currently, another 65 homes and condos are under contract, representing a listing amount of $42,882,965. In August, another 11 of the Timbers condos of which I am the exclusive Listing Agent for, sold. All but two of the remaining 8 units are under contract.
In land sales, a total of seven parcels sold in August – one less than in July for a total of $1,590,750. The total sales volumes in July and August are similar and the total percentage off list price in August was 4.5%. Sales in August represent a wide range of land from a 3.58 acre parcel in the town of Gothic for $8,500 to a .14 acre parcel in Crested Butte on Whiterock Avenue, which sold for $595,000. Currently, another 16 parcels are under contract with a total listing price of $3,781,400.