Troutman Park Mid Year Real Estate Review

July 22, 2017
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# of Closed Sales: 7

Average Days on Market for Solds: 38

Median Sales Price: $345000

# of news listings: 8

Months of Inventory Last Month: 1

Troutman Park’s real estate market has been active again this year.
With all the amenities this neighborhood has to offer it has certainly
been an attractive area for buyers on the search for their new home. We also saw an All Time high sales price of 742 Benthaven at $443,000 in June!

Now let’s take a look and compare the 1st and 2nd quarter of 2017 to previous years. 

2017 Q1-Q2
  • 24 Sold
  • From $257,500 to $443,000
  • Average of 35 days on the market
  • Average Price of $346,229 (an 8.1% increase over the average price in 2016 Q1-Q2)
  • These homes sold for an average of 102% of their list price

2016 Q1-Q2

  • 27 Sold 
  • From $205,000 to $436,000
  • Average of 36 days on the market
  • Average Price of $320,188 (a 13.4% increase over the average price in 2015 Q1-Q2)
  • These homes sold for an average of 102% of their list price

2015 Q1-Q2

  • 37 Sold
  • From $218,325 to $355,000
  • Average of 31 days on the market
  • Average Price of $282,317 (a 15.2% increase over the average price in 2014 Q1-Q2)
  • These homes sold for an average of 102% of their list price

2014 Q1-Q2

  • 38 Sold
  • From $180,00 to $312,000
  • Average of 42 days on the market
  • Average Price of $244,917 (an 11% increase over the average price in 2013 Q1-Q2)
  • These homes sold for an average of 99% of their list price

2013 Q1-Q2

  • 42 Sold
  • From $166,100 to $275,000
  • Average of 65 days on the market
  • Average Price of $220,514 (a 3.7% increase over the average price of $212,641 in 2012 Q1-Q2)

Right now we’re noticing the typical seasonal slow down in activity that we notice every Summer about this time. 

The reason for this slow down is that the pool of buyers dries up mid-Summer. There are a couple reasons for this:
  1. The buyers that are active in the Spring and currently renting have leases that often need to be renewed by July. Typical rent cycles for Ft Collins start in August and go through the following July. So if these buyers are not able to secure a home for themselves by June they have to live somewhere and many times end up renewing their lease. 
  2. The buyers that have families with kids are getting their vacations in before the back to school rush and will be putting their home search on the back burner for now. They usually get back into the market mid-September and that is when we see the market reflect this bump in activity. 
What all of this means is that there are some great opportunities for buyers right now! More homes are on the market and these properties are often available for longer than they were in the 1st half of the year too!

I work hard to keep my finger on the pulse of our neighborhood’s real estate market!

Feel free to reach out if you have questions.
Thanks,
Brandon Bidwell
8z Real Estate
bidwell@8z.com
970-215-1573