Overall real estate activity is dependent on price, location and condition of the property. When pricing properties, it is important for both seller and their agents to consider the number of sales within a given price range.
The following chart provides a breakdown of the number of sales by price range in Elbert County. Elbert County includes parts of Parker, Elizabeth, Franktown, Elbert, Kiowa, and Simla. These figures were pulled on March 30, 2014.
| Elbert County | Number of Sales: | ||
| Jan-March | Jan-March | Jan-March | |
| Sale Price (thousands) | 2012 | 2013 | 2014 |
| $0 - 50 | 1 | ||
| $50 - 75 | 2 | ||
| $75 - 100 | 3 | 2 | 2 |
| $100 - 150 | 9 | 5 | 4 |
| $150 - 200 | 10 | 11 | 3 |
| $200 - 250 | 16 | 9 | 5 |
| $250 - 300 | 15 | 18 | 15 |
| $300 - 350 | 11 | 12 | 8 |
| $350 - 400 | 10 | 17 | 8 |
| $400 - 450 | 5 | 7 | 13 |
| $450 - 500 | 4 | 7 | 5 |
| $500 - 600 | 5 | 13 | 3 |
| $600 - 700 | 1 | 1 | |
| $700 - 800 | 1 | 2 | 1 |
| $800 - 900 | 1 | ||
| $900 - 1,000 | 0 | 0 | 0 |
| $1,000+ | 0 | 0 | 0 |
| Jan - March totals | 90 | 106 | 69 |
| Source of Data: Metrolist |
Even though the home inventory numbers in Elbert county are extremely low, it is going to be more challenging in the current market to find a buyer if you property is priced at $500,000 or above.
Sellers in the upper price ranges need to be prepared to market their home as best as possible. Professional quality real estate photography should be utilized. The home should be staged ESPECIALLY if it is vacant. Any necessary repairs and updates should be made prior to listing the home. Why take a chance of turning off a potential buyer?
If sellers opt to have a caretaker or a tenant occupy the property in their absence, they need to ensure the occupants are willing to keep the property in showing condition. It is a huge turn off for buyers to walk into a high end home that appears to be occupied by a messy college student - unmade beds, dishes in the sink, dirty dishes left in the entertainment room...
Of course the home should be realistically priced. If your home is close to a signficant price point, such as $450,000 from the chart above, be sure to factor in your holding costs.
Please note: This information was based on activity of homes that were listed with Realtors participating in the Metrolist MLS. It may not include all sales.
Real estate is very local and dependent on location, condition and price. If you would like information about your home, please email me or call.
Sincerely,
Sondra Meyer Peterson, CPA
Real Estate Photographer
Home Stager
Colorado Horse Property Specialist
Colorado. See It. Experience It. Live It
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