Happy New Year, and welcome to 2015!
The housing market in Denver was phenomenal in 2014, and is expected to continue to be even better in the new year. Denveris expected tohave one of thetop 10 best real estate markets in the countrywith home sales expected to be up 14%.
To recap the market in Wheat Ridge
- 2014 saw a total of 508 homes sold with the highest being two homes that closed just over $1 million.
- The average price per square foot sold was $203 for above-ground square footage and $158 when you include basements
- The average total days on market was just 29!
- Homes sold for 97% of their original asking price
- The average home sale was about $278,000
With all these great statistics, it's hard to imagine an even better year in 2015, but there are some great things happening in our city that lead me to believe we will indeed see it. There are two great new developments coming to the Ridge at 38 - InCarnations and Perrin's Row. Both these developments will bring a vibrancy to the city that will bring life to the community. Additionally, the Quail Hollow development just off 32nd and Quail has several homes currently being listed around $1 million. When these sell, the average prices will rise significantly which is great for all our property values.
The only down side to the real estate market in Wheat Ridge is the lack of homes for sale. There are currently just 34 homes active on the market and several of these are in the Quail Hollow and InCarnations developments. We need more listings on the market! Sellers: if you are considering selling in 2015, do it now while you have very little competition in the market, and you can snag a great post-holiday bargain on your new home!
Please let me know if you have any questions at all, and I look forward to meeting some of you in the new year!
Joy Opp, 303-868-8769
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