The Timbers neighborhood Real estate market report 2020
5220 Golden Ridge Ct in The Timbers Neighborhood
The Timbers neighborhood Real estate market report 2020.
Believe it or not the The Timbers neighborhood real estate market was not as bad as we all thought it would be back in March. I did see some early panic selling and several sellers pulled their homes from the market but that all went away quickly once the home buyers jumped into the market. We also saw a few sellers postpone their moves and will relist in 2021. These homes should be hitting the market soon.
The biggest trend I noticed when completing the The Timbers neighborhood real estate market report for 2020 was retirement. I helped many longtime Timbers families move onto their places of retirement. We had several families leave and head to the east coast for beach living and several families simply downsized into smaller homes around the metro area.
Large lots, spacious homes and the rural feel of The Timbers attracted home buyers to our neighborhood. During June I was receiving multiple calls per week from prospective buyers wanting information about The Timbers. By the way…many of those buyers did not buy in The Timbers last year but are actively looking to purchase this year.
Something to notice about the lower average price per square foot this year is the age of some of the homes that sold. There were quite a few older and outdated homes in The Timbers that sold and these sales pulled the averages down for the year but had no real drag on upper end home prices. Nice homes that are well maintained will always sell for more.
If you are considering selling in 2021 call me and I will come help you formulate a plan of action. I’m happy to go room by room and show you exactly what needs to be done to get your house ready to sell. I also have a professional designer and stager that will help you make the right decisions when preparing your home to sell. It’s FREE. Steve 303-941-4663
The Timbers neighborhood Real estate market report 2020
These stats do not include the new build homes. These are only stats on resale homes.
- 50 homes sold in 2020
- The average sale price was $1,045,000 (Ranch and Two Story Homes)
- The average days on market was 51
- The average price per sqft for a ranch house was $189.88 but many updated ranches with great lots sold well over $200 per sqft.
- The average price per sqft for two story homes was $172.65 but many updated two story homes on great lots surpassed the $200 per sqft price.
- On average homes sold at 96.05% of the original asking price.
New Custom Homes in The Timbers Neighborhood.
New build homes in The Timbers are selling at record pace. Many buyers that couldn’t get a resale home or couldn’t find exactly what they wanted opted for one of the new build options. The custom homes in the currently open section are basically sold out. New custom lots will be coming available soon.
If you are interested in starting from scratch, finding a perfect lot and designing your own home I can help. I’ve helped several clients through this process. You better hurry though…they will not last long.
Custom SPEC homes in The Timbers
Yes, there will be more custom spec homes in The Timbers available. New lots have already been purchased by some of the area’s best builders. Would you like to be able to get in early on some of these new build custom homes in The Timbers? Call me 303-941-4663.
Other New Home Options in The Timbers
Large scale home builders up in the newest section of The Timbers have done amazingly well in 2020 as well. Toll Brothers told me they were almost sold out when I visited before Christmas and Berkeley Homes has one home left. I was told Richmond still has a few lots available.
If you need information or market data for The Timbers feel free to reach out to Steve Beam. 303-941-4663. I live and work here and know this area inside and out.