Stonegate Village Down 7.7% in Value 2011
Stonegate Village home prices have dropped 7.7% over the past 5 years.
See the numbers below and my opinion at the bottom of this article.
Lower home Sales
It’s a great time to buy a home in Stonegate. It looks like the REO and short sale market has finally pulled values down in the Stonegate Village neighborhood in Parker, Colorado. I see that the number of sales is down a little too from 2010 but that might have something to do with the lower inventory levels across the board.
The average price per sqft for 2011 is now at $132 per sqft versus a high of $143 in 2007. Ouch! We are all feeling the pain.
Take note Stonegate home sellers! Buyers are looking for quality homes with upgrades and well maintained interior and exteriors. I just posted an article about what buyers are looking for and why they are over looking Stonegate and buying elsewhere. I suggest all potential home sellers read this article. Best Tips to Sell Your Parker Home Fast.
While the numbers don’t lie and they are painful it isn’t the end of the world. We knew we were going to get hit by this at some point. We are not immune to the real estate market around the world even though we have been somewhat insulated from it for several years. Stonegate has not been hit nearly as bad as many other neighborhoods around Parker and the Denver Metro area.
Stonegate residents. Update your homes. Remodel them. Our neighborhood on the South side is getting older and we need to keep this neighborhood as a prime spot for all potential home buyers in the Parker area. The amenities in Stonegate, our location as well as the BEST school in Douglas County all help us stay on top of the competition. Let’s keep it that way.
Here is a list of every home currently for sale in Stonegate.
Find out what your Stonegate home is worth right now.
Total Sales by Year: (2007 was obviously the down year for home sales in Stonegate.)
2007 = 79
2008 = 173
2009 = 121
2010 = 131
2011 = 113
Average Total Days on Market:
2007 = 70
2008 = 82
2009 = 82
2010 = 76
2011 = 105
Average NET Sold Price: (7.7% decrease in Value from high to low year.)
2007 = $329,191
2008 = $308,770
2009 = $308,292
2010 = $308,938
2011 – $303-853
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
2011 = $34,335,375
Average NET $ or Price per sqft Sold:
2007 = $143
2008 = $138
2009 = $135
2010 = $138
2011 = $132
My opinion is that 2012 will bring even less home sales as inventory decreases. This could be a great thing for house values in Stonegate and Parker in general. Lower inventory brings higher prices…USUALLY. Buyers are looking for quality and some homes in Stonegate are not updated. Every updated home I put on the market this year was sold in days not weeks. So take the time to make changes and improvements.
Douglas and Elbert Counties are on the verge of an oil boom. If oil starts flowing East of town this will bring huge amounts of workers into our area. This will be great initially for the rental market and then to the home sales market. Jobs are what we need and it looks like it might happen.