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.
AUGUST 2016: The median sold price for Colorado held steady from July to August. Note that for all Front Range markets (except Fort Collins-Loveland), home prices increased from August 2015. Data: RE Colorado.
The repayment of loan principal through equal payments over a designated period of time consisting of both principal and interest. (Realtor.org)
Neighborhood spotlight: Highlands Ranch
Not to be confused with Denver Highlands, this bedroom community sits on the metro area’s southern border in unincorporated Douglas County. A 22,000-acre master-planned community first developed 35 years ago by the Mission Viejo Company of Cali fame, Highlands Ranch is now owned by Shea Homes. There are approximately 96,000 residents, according to the Highlands Ranch Metro District (the governing entity).
Highlands Ranch has a farm in the center (yes, it really is a working ranch) which once made Limburger cheese (peeyuu… thankfully not anymore). There’s also a 100-year-old windmill and a bona fide historic castle (Castle Isabel aka Highland Ranch Mansion). Legend has it that Union General Kit Carson built his last campfire in the area.
The neighborhood boasts miles of open space and trails, tons of community events and four recreation/fitness centers with pools (included with quarterly community assessments of $142). Some neighborhoods have sub-association fees hovering around $25/mo. (including trash). Housing ranges from brownstones in the mid $200Ks to gated homes hovering under $800K. The median home sales price is currently $430,000 (Trulia).
July 2016 was strong for housing along the Front Range. Most markets continued to see an increase in median sold prices for single-family homes (detached and attached). The Fort Collins-Loveland dropped 14.8 percent, which could be viewed as simply a “settling” into a more realistic and sustainable price point.
The average Days on Market (DOM) held at 20 for the Front Range, while the overall median sold price dropped from $360K to $350K due to the FOCO/Loveland decrease.
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