Belle Creek Homes for Sale- Market Data for 3rd Quarter 2011
3rd Q 2011 saw exciting changes. There were 3 closed sales, all of which were newly built Oakwood Homes. There are currently 5 homes under contract in Belle Creek, and only 5 homes available for move in. This is an extremely low level of inventory for Belle Creek. What’s more, only 1 of the available properties is bank owned. There are currently no short sale properties available. Oakwood continues to sell lots for dirt-start homes and currently has 8 lots reserved or in some stage of construction.
The Breakdown: Of the 3 closed sales in 3 Q, none were short sale or bank owned! This is in marked contrast to 2Q’s 5 distressed properties out of the 6 sold.
The Oakwood Homes that were sold came in at an average $110 per square foot.
Even more notable right now is the number of under contract homes in Belle Creek. Only 2 of the 5 are in a distressed situation. What’s more, the last 3 to go under contract were only on the market for an average of 18 days! Added to that, smaller cottage-style homes saw an increase in asking price- from 2Q’s between $125,000 and $135,000 to $154,900 and $164,973- and they are getting grabbed up immediately. This turn has happened very quickly- if you have been following my Belle Creek posts, you will note that Belle Creek homes that were for available for sale just a few days ago have gone under contract, and new sold data has just been released.
The Bottom Line: Could we be seeing a return to a “normal” market here in Belle Creek? Signs do seem to point that direction. We won’t know for sure until the existing inventory goes to closed sale and we see price increases, but one thing is for sure-people want to live in Belle Creek.
And as in any market, clean, well maintained homes will always fetch the highest price.
Remember that every situation is unique in this regard. Call me at 720.341.5235 to get the most up to date information when you consider selling!
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