Pradera Golf Club 2013 Home Sales Report

Pradera Neighborhood in Parker CO average sales price up only 3% in 2013.

Appreciation in Pradera.

The Pradera real estate market didn’t have as good a year as originally hoped for in 2013. The average sale price in 2012 jumped 9.83% over 2011 but in 2013 the average sale price was only up another 3%.

It will be interesting to see what prices and sales numbers will look like in 2014 with all the new build homes that will be available. Will the new build custom and semi-custom homes help drive traffic for the resale market or take all the business? I have a feeling it will drive prices higher and slow sales over all.

With interest rates predicted to go higher I believe high end home sellers that sold in 2013 might look like geniuses for timing the market perfectly. I believe we have seen the end of sub 4% 30 year fixed rates for a long, long time. If rates rise above the 6% mark it could drive potential high end home buyers into a lower price range market. However, most million dollar home buyers that I’ve worked with didn’t base any of their buying decision on interest rates that I know of. They usually buy the home they want regardless of interest rates.

One of the problems holding prices down is farming by so called “neighborhod experts.” These are Realtors that make a living off one neighborhood by farming it on a monthly basis. They sell a lot of homes in the area and tend to use very safe pricing or LOW pricing so the homes are sold quickly. This keeps them in the neighborhood gossip and sellers are generally happy to sell quickly but many times there is significant money left on the table by pricing low. Especially in a higher end neighborhood like Pradera. So be careful and always watch tends closely. Make sure you now your numbers and of course make sure your Realtor knows their numbers too.

Pradera home sales for 2013:

Homes closed in Pradera for 2013 = 85 versus 88 in 2012.
Average sales price for 2013 was $646,603
Average beginning asking price was $670,459
Average sold price per sqft $193.99 (above ground sqft) Up 4.75%
Average price per finished sqft $152.57
Average price per total sqft $117.24 (entire house sqft whether finished or not)
Highest sale price in Pradera for 2013 was $1,750,000
Lowest sale price in Pradera for 2013 was $410,000
Average year sold homes were built is 2007
Difference from asking price to sale price = 96.83%

If you would like to see more detail and data about specific homes that have sold check out the spreadsheet I have below or click the link here to open the full spreadsheet in your browser.