Infographic: October 2014 Market Update for Spring Canyon

October 15, 2014
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Spring Canyon - Fort Collins, real estate infographic

 

The Spring Canyon neighborhoods have enjoyed a nice variety of listings in the past few weeks – several single family homes and the more unusual paired homes and townhomes have also made an appearance. With rental vacancy rates still so low, investors are still snatching up these smaller homes as rentals. It’s nice to see some very well cared for family and executive rental homes in our neighborhoods – a win/win for renters and for those who may want to return to their homes some day!

 

There are three active listings that are still available in the Spring Canyon neighborhoods, two in Quail Hollow and one paired home in Silver Oaks. 3525 Auntie Stone #2 is listed at $267,500 with 3 beds, 3 baths and 3,202 sq ft. At $84 per sq ft this is a great buy for an investor with a few cosmetic updates in store. The two active Quail Hollow listings are 2725 Garrett at $350,000 with 5 beds and 3 baths (see my recent review of this home) and 3015 Lucinda Ct at $359,900 with 4 beds all on the upper level, and 3 baths. It is priced at $112 per sq ft.

 

Lucinda has an unfinished basement, which is rare for Quail Hollow and sometimes more desirable than a finish that may be dated or not to the buyer’s specifications. It’s good to see that 2800 Blue Leaf is now under contract after a longer 110 days on the market. Its current list price is $330,000 or $118 per square feet, and being right at the Cottonwood Park entrance it is a nice location for recreation!

 

Sold in September

 

4012 Windom St, Springfield sub, $239,000, 3 beds, 2 baths, 1395 square feet , $171 per sq ft, 80 days on market

2155 Bronson St, Silver Oaks paired home, $249,900, 2 beds, 2 baths, 2760 sq ft , $91 per sq ft, 41 days on market

3525 Auntie Stone St 3, Silver Oaks paired home, $270,000, 3 beds, 4 baths, 3324 sq ft, $81 per sq ft, 35 days on market

2601 Yorkshire St, $300,000, Quail Hollow, 4 beds, 3 baths, 2640 sq ft, $114 per sq ft, 67 days on market

2630 Willow Fern Way, Hampshire Pond sub, $342,600, 4 beds, 4 baths, 3038 sq ft, $113 per sq ft, 8 days on market

2601 Dumire Ct, Quail Hollow sub, $395,000, 5 beds, 4 baths, 3354 total sq ft, $118 per sq ft, 41 days on market

4028 Highlands West Dr, Highlands West sub, $420,000, 6 beds, 4 baths, 3673 sq ft, $114 per sq ft, 164 days on market

 

Interestingly, last September 2013 there was only one home sold in the entire month in our Spring Canyon neighborhoods! It was on Dalton and sold for $180,000. Needless to say, we have had a much busier September this year with sold, under contract and active listings. While overall the real estate scene is somewhat slower than the early summer hustle, the interest rates are still attractive and both owner occupied buyers and investors are still making great purchases.

 

With an average days on market of 75 days or so, I’d put our market in a nicely balanced position right now.

 

New listings will likely slow over the upcoming months, and this gives buyers the opportunity to watch carefully for the right home for them perhaps without the previous panic mode of missing out the first day a home is listed. With interest rates staying low it is still a great time to buy!

 

Homeowners considering a move are wise to consider updated information regarding their specific active market so they can best position their home with the competition. It will not be a good time to overprice a listing or over-improve, as appraisals are still critical and buyers are savvy in finding good deals.

 

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Please call me if you need any assistance in the Fort Collins area. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the community. You can always reach me at 970.218.4811 or karen.meyer@8z.com.