Custom Homes in Parker Colorado Market Update 2017
Current Sales Data for Custom Homes in Parker Colorado for 2017
This report is for from January 1st to May 25th, 2017 and all homes must have closed at or above $750,000.
The luxury home real estate market is marching on in Parker, Colorado. With 66 homes already closed before the end of May the demand seems to be strong. Low interest rates, solid job creation and a a definite positive vibe in the air are pushing prices higher and keeping demand on track for a good year in the custom home market. I’ve sold and closed several of the homes mentioned in this report over the past 30 days and the only issue I’m seeing is that some sellers are asking too much and many of the older homes are severely outdated. I’ve listened to several buyers complain about outdated finishes and prices pushing the outer limits.
Buyers that are armed with current market data don’t need to overpay for a custom home with so much inventory on the market.
Things to think about… Custom home builders are actually building spec homes again. Custom home builders are building at a pace I haven’t seen in 8 years. Many new custom homes that sit on the market for a few months are experiencing price drops on a regular basis so it is possible to pick up a good deal along the way.
Remember a few of the hidden costs of buying a custom spec home could include landscaping, blinds and possibly appliances.
Parker, Colorado absorption rate: As of May 27, 2017 there is a little over 12 months of inventory for homes priced above $750,000.
- Total # closed 66
- Total # active = 88 priced from $750,000 to 3,900,000.
- Total # under contract = 35 priced from $775,000 to $2,300,000.
- Average sales price $979,255
- Average days on market 116
- Average original asking price $1,008,983
- Average difference from original asking price to final sales price 94.23%
- Average total sqft 6,024
- Average price per sqft above ground $281.39 (this # would be very different if I separated ranch and two story homes.)
- Highest sales prices for 2017 in Parker, CO so far is $2,575,000 in Centennial Ranch and $2,207,500 in Colorado Golf Club Neighborhood in Parker Colorado
Here is a link to the full spreadsheet below. Custom home Sale in parker Colorado for 2017.