“Have we hit bottom?” This is the question I and most Realtors get on a daily basis.
How about a 6.35% value reduction in Stonegate home prices from 2007 to 2010. See below.
The ANSWER IS YES we have BUT it also depends…on what your bottom is and what happens going forward with interest rates.
The only way I can show this is through actual real estate sales data from a specific neighborhood here in Parker Colorado. The data I will show you is from actual home sales in the Stonegate Neighborhood in Parker Colorado. I sell a lot of homes here, live here and know the neighborhood is one of the areas that many Parker Colorado Home Buyers will look in and want to live in.
Stonegate is a larger neighborhood in Parker CO that has a long history of steady sales. It isn’t a new neighborhood. It was started in the 1980’s and has homes as new as 2005. There are about 3000 homes in Stonegate.
You can see from the data below that the market has settled down and seems to have stabilized for the past two years. Over the past 3 years we can see a definite trend of steady sales prices and a more predictable market.
Stonegate home sellers make sure you price your homes reasonably within the market or you may be in for a long road before you sell.
Total Sales by Year: (2007 was obviously the down year for home sales in Stonegate.)
2007 = 79
2008 = 173
2009 = 121
2010 = 131
Average Total Days on Market: (No real difference)
2007 = 70
2008 = 82
2009 = 82
2010 = 76
Average NET Sold Price: (6.35% decrease in Value from high to low year.)
2007 = $329,191
2008 = $308,770
2009 = $308,292
2010 = $308,938
This is so true because I was completing a market analysis earlier this week and basically told the seller of a Stonegate home that their home was worth about $23,000 less than they paid for it in 2006.
Total Volume of NET Sales By Year in Stonegate: (Two years of consistent sales volume show a market that may have leveled out)
2007 = $26,006,053
2008 = $53,417,205
2009 = $37,303,358
2010 = $40,470,934
Average NET $ or Price per sqft Sold: (Seems to have settled around the mid $130 per sqft mark)
2007 = $143
2008 = $138
2009 = $135
2010 = $138
Parker Colorado has Four Blackeyes