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Firestone Market Update

The winter months typically see a slowdown in real estate activity.  Firestone is no exception.  There has been decreasing activity in the months of November and December overall.   November saw 14 new listings while  December only saw 9.  Of the available listings November saw 23 go under contract while December only saw 9 go under contract.  Of those that sold, the median sale price was 98.5% of the list price.  This is in contrast to the summer months of 2015 when homes in Firestone were selling at 100% or more of the list price.

In a more positive direction, December saw a few more closed sales (23) than November (19).  There was a decline in the median days on market (DOM) from November to December, each month reporting  73 and 64 respectively.

The Oak Meadows Subdivision saw three new listings in November with no new listings in December.  In November, two of the available listings went under contract while only 1 went under contract in December.  The MLS shows that 3 homes sold in the last 2 months in the neighborhood.  Of those, 2 of the 3 sold at list price or higher.  There was an increase in DOM from November to December,  from 49 to 73 respectively.  These numbers are skewed by new construction and a couple of resales that haven’t sold.

Considering this data, though it is the doldrums of winter, the market in Firestone is fairly healthy.  In the coming months it is expected that activity will increase and that property values will continue to rise, though at more moderate levels than last year.  With the ongoing influx of people to the area and business and jobs development, the market in Colorado will continue to grow.  See my blog post on the 2016 market forecast for more details.

 

Contact me if you have any questions about these statistics or the real estate market in general.

 

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