Let’s take a look and see how August 2018 treated the real estate market in Westridge Village.
There were 5 new listings added to the market which was fewer than the last 2 year (see chart below). This is a little on the lower side, but inventory is bleak right now, so in line with the Highlands Ranch area. This does make it a great time to be a seller as there is just not much out there to buy.
Active listings are also on the lower side compared to the last 2 years. Although, it is the 3rd highest amount this year. Properties that are priced correctly typically sell within 14 days. It can be tough as a seller in this market not to try and get more money – nothing wrong with that. However, buyers can ultimately draw a line in the sand.
The average list price in Westridge Village can fluctuate quite a bit. There is a pocket of homes that sell for $600-$700,000+ and if there are a few listed that month, it can skew the results upward. So, if you look at the chart below, you will see that August 2018 is under the previous 2 years – more of the bigger homes were listed in 2016 & 2017.
average list $
Now let’s take a look at what sold in August 2018 and what impact that has had on home values.
The number of homes sold was 10 which is in line with what has happened in the last 2 years.
The average sold price was $470,350. Again, remember what I said above about the fluctuation of the Westridge Village real estate market. This number topped 2017, but fell short of 2016 – more of the bigger houses sold in 2016.
The Average Price / Square Foot was $204. A huge increase from the last 2 years. Let’s see if we can keep this up.
The average days on the market was 14 days. Very solid. Like I said, if you are priced correctly, you should be under contract in 14 days. If not, it can take longer.
The percentage of the original price to the closing price was 98.8%. This really shows that it is an extremely solid market.
The months of inventory is 1 month. This is great for sellers, not so much for buyers. Anything under 6 months is considered a sellers market. If you look at the chart below, you can see that many of the months don’t have bars which means that they are at “0”. A huge sellers market.