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As your local 8z REALTOR and market expert, it is my pleasure to recap data and provide this market update for Denver’s Sloan’s Lake neighborhood. Stay tuned each month as I post updated information on our market’s activity.
Sloan’s Lake market is holding strong. Average days from list to contract, when removing two higher priced homes that are more difficult to find a buyer, was only 12 days. Homes priced right for location, condition, amenities, layout etc. are selling quickly. The difference in list price and sold price is only 1% less.
As of Aug 27, there are 29 listings available for purchase with price points to suit most all buyers.
There are 15 active listings from those listed during the past 30 days. They range from a home with a recommended scrape to build and develop on a quarter acre, to another fantastic row home on Quitman, a range of $2,250,000 to $194,900. The homes I reviewed and posted about most recently were overpriced and the market responded with a “no thank you”. This is the time for sellers to see that even though the Sloan’s Lake market hasn’t slowed down too much, list too high and you won’t sell your home in a timely manner.
15 properties sold in the last 30 days – ranging from a cozy 537 sq foot row home for $160,000 at 2250 Quitman St, #18 to a pop top transitioning from a 1929 difficult-to-use-space to an urban contemporary detached single family beauty of 3967 sq feet for $755,000. Both homes took longer to go under contract than the average of Sloan’s Lake for the last 30 days. The average date from listing to under contract status was 23 days. A few of the higher priced homes took awhile, otherwise the average would be much less at 12 days.
Data and my instincts tell me that the market will slow a bit, due to both a normal cooling after summer as well as buyers having enough of a sellers’ market. It’s a good time to remember to price fairly and sail through the contract without experiencing problems with appraisal or the buyer having issue with inspections.
Current homeowners that want or need to sell in the Sloan’s market should be reminded that it is still a sellers’ market, and it is strong. But you must use sound judgement in list price – price too high and you will sit longer than necessary and that can be harmful to your cause. If you do not desire to sell, making sound improvements to your home will pay off, so exercise some DIY or hire an expert and enjoy the changes you make before you sell. It will pay off!
I am only a call or email away from providing you assistance. I’d be more than happy to discuss the current market’s activity, show homes from the current inventory and help you with any of your real estate needs in the neighborhood. You can always reach me at 303.883.5856 and Brenda.Meyers@8z.com.