The numbers are in for October 2016. The median sold price is holding steady, and the average days on market has only gone up 1 day. There were fewer new and active listings compared to September, but that’s to be expected.
If you’re a home buyer, you may have noticed a spike in mortgage rates this week. It may have you thinking you need to buy sooner than later because rates are going to go up more. After the election’s surprising results, rates did take a slight upturn (from 3.57 percent to 3.94 percent). But, as the Associated Press (AP) reported, don’t get carried away because things will soon settle down. In fact, rates are pretty much where they were this time last year.
SEPTEMBER 2016: The median sold price for Colorado took a slight dip from August to September. Median sold prices for all Front Range markets went up in September, with Greeley seeing the biggest increase. Data: RE Colorado.
Adjustable-Rate Mortgage (ARM): A mortgage loan with an interest rate subject to change over the term of the loan. The interest rate is tied to the performance of a specified market rate. Source: realtor.com
Neighborhood spotlight: Parker
It’s estimated that almost 50,000 people call Parker home. Evidence of the first settlement dates back to the establishment of the Pine Grove Post Office in 1862. Famous pathways to the west (and gold country) such as Cherokee Trail and Smoky Hill Trails ran through Pine Grove, which became a rest spot for travelers.
The post office was relocated 20 miles south of Denver and became known as the 20 Mile House, which is still standing on Mainstreet between Twenty Mile Road and Parker Road. Since another Colorado city already owned the name Pine Grove, the town took on its nickname “Parker’s” (the name of major landowner). Parker was officially incorporated in 1981.
Parker still has a quaint historic downtown that hosts many community events, in addition to modern shopping centers. The parks and rec department boasts the state-of-the-art Parker Field House, miles of trails, sports fields and leisure parks. The arts have also found a modern home at the Parker Arts, Culture & Events (PACE) Center.
Parker has a variety of properties, from condos and townhomes to single-family homes and sprawling horse properties. There is still land available for custom builds. Trulia lists the October 2016 median sales price at $400,000 (up from $376,500 last year).