Infographic: April 2015 Market Update for Spring Canyon

April 20, 2015
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2015 4. April - Spring Canyon Infographic

 

Currently there are 7 homes on the market in the Spring Canyon neighborhoods – 3 in Hampshire Pond, 2 in Silver Oaks, 1 in Quail Hollow and 1 in Fox Hills. Out of the 7, 6 are under contract with only the newest of those at 2300 Water Blossom still available (my listing). This has been a fast market with an average of only 5 days on the market before going under contract. It’s important to have a good strategy for listing, and plan for moving, prior to listing your home!

The newest listing is at 2300 Water Blossom in Hampshire Pond (mls# 760211). This is a great family home with 3287 square feet/3176 finished. It has 5 large bedrooms, both formal and informal spaces plus a great finished basement that can be used as a teen/mother in law quarters as it has a full kitchen! Walk to Safeway/Walgreens and the Spring Creek bike path entrance is so close. Bike to all 3 schools as well! Priced at $379,000.

There were 6 solds in March with a median price point of $400,500 and an average of $391,500. These were well distributed with 2 in Silver Oaks, 1 in Springfield, 1 in Quail Hollow, 1 in Fox Hills and 1 in Rockview with an average of only 28 days on the market to close – that’s fast!

Last year during the 1st quarter of 2014 there were 9 homes sold over the 3 month period at an average sales price of $273,677 and median of $236,000. The average days on market was 57 and the average price per square foot was $125. While each of our Spring Canyon neighborhoods were represented with sales, two were in Springfield and due to their smaller size and higher price per square feet, they skewed the data to a higher price per square foot. Without those two sales the average price per sq ft was $107.

This year during the 1st quarter there were 10 homes sold at an avg price of $387,125 and median of $366,500 with 23 days on the market and an average $124 per square feet.

The last year’s comparison to this year’s 1st quarter is best represented with the average price per square foot being $107 last year, and $125 this year. Also reflecting the seller’s market is the faster time on the market – 23 days this year vs 57 last year.

It is indeed still a seller’s market with the inventory lagging behind the supply for ready buyers.

 

*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.