January 2015 Market Update for Parkview

January 12, 2015
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As your local 8z REALTOR and market expert, it is my pleasure to bring you this monthly update for Centennial’s Parkview neighborhood. Tune in each month for updated information about one of life’s biggest investments: your home.

Inventory is low with only two listings currently on the market. With such a limited quantity of homes on the market we will continue to watch home prices stay high and gradually rise. Demand for homes in Parkview has always been high, but with limited listings available demand is even higher.

Current sold homes were only on the market an average of 19 days, meaning that homes are selling quickly once they hit the market. Homes that are in good condition and priced right are going under contract in as little as 4 days. That is really impressive, especially due to the time of year and the holiday season.

Even though the average price per square foot dipped slightly from last month (PPSF above grade in Nov $167.43 vs. Dec at $159.76) Home prices are still holding steady. With 9 properties currently under contract with an average PPSF of $159.63 I think we will see prices hold steady through the next couple months and then rise again starting in the spring.

PPSF above grade in Nov. was $167.43 and dipped in  Dec. to $159.76.
December Home Sales

Address Beds Baths SqFt Above grade Fin SqFt PPSF Sold Price DOM
21361 E Williamette Pl 3 3 1,378 1,650 $194.48 $268,000 13
5858 S Lisbon Way 4 3 1,516 2,870 $191.29 $290,000 10
5528 S Kirk Cir 3 3 1,851 2,299 $159.37 $295,000 8
5579 S Lisbon St 4 3 1,987 1,987 $158.53 $315,000 7
21220 E Bellewood Dr 3 3 2,131 2,131 $160.96 $343,000 44
20924 E Crestline Pl 5 3 2,435 2,435 $139.63 $340,000 58
20947 E Berry Pl 5 3 2,471 2,471 $141.44 $349,500 14
5255 S Liverpool Way 4 3 2,647 2,647 $132.23 $350,000 4

 

I think we are heading into 2015 with a steady market. If 2014 is any indication, I believe we will continue to see home prices and demand rise.

If you are on the fence about selling and buying something new, now is the time to really start getting ready. Interest rates are still great and the spring Buyers and Sellers are starting come out of hibernation.

Please call me if you need any assistance in Parkview or elsewhere in Centennial. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with your real estate needs. You can always reach me at 303.667.8274 or mark.risley@8z.com