Belle Creek Homes for Sale – May 2012 Monthly Market Minute by Jennifer Prestwich REALTOR®

 

May home sales are continued to hold steady in Belle Creek.  There are currently 7 homes under contract, and there has been one closed home sale in the past 30 days.  These under contract homes will further shift the Belle Creek home values when they do close.

As of today, the numbers are showing improvement in Belle Creek:

 

  • The turnover rate for Belle Creek home sales in 5.4%.  This number is an increase  when compared to April, as well as when compared to May 2011.
  • Average Days on Market for all sold homes is 111.  This number represents the number of days from the time a home is actively listed to the time a valid contract is signed by both buyers and sellers.  Once a contract has been signed, it is usually 30-45 days until it comes to a closed sale and the home is officially “sold”.  Recently, we have seen the Under Contract timeline a little bit extended, but I expect to see a significant number of closed sales in July and August.
  • Average Days on Market for homes in Belle Creek under 1500 square feet was 73.  Larger homes saw an average of 164 Days on Market.  This number is higher for both Cottage-style and Larger single family homes than it was in April.  However, it is important to note that we had an unusually fast paced market this spring.
  • Average Net Sold Price for all homes was $180,616.  The average net sold price per square foot was $109.  This number is a significant increase over April’s average net of $100.

It is very exciting to see the Belle Creek market heating up.  While days on market are a little bit higher than they were, prices across the board are increasing.  This is an extremely welcome statistic!

People want to live in Belle Creek, but the inventory is still very low.  If you have been waiting to make a move, now might be the perfect time.  Call me at 720-341-5235 to discuss whether now is a good time for you to make a move.

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