2012 was an exciting year in the Belle Creek Real Estate Market. At last, individual sellers entered the market and were able to sell their homes fairly quickly and at better prices than we’ve seen since 2007. While there was still some short sale and foreclosure activity, it is good to see some normalcy returning to our neighborhood real estate market.
Fourth Quarter 2012 closed out with 6 New Town homes sold. This is a pretty encouraging number for a traditionally slow time of year, and it is an increase over 4Q 2011‘s number of 4 New Town homes sold.
The Breakdown: Of the 6 closed sales in 4Q 2012, only 1 was in a “distressed” situation. This is a decrease over 3Q - which saw 2 short sales. Prices decreased slightly to $106 per square foot for 4Q 2012, after an average of 22 Days on Market for all types of homes sold.
Belle Creek saw a very encouraging 2012 overall. Starting in March, buyers were out in full force, and there were 8 homes sold in the month of March alone, for an average net sold price of $108 per square foot. This number held fairly steady in 2Q, with 7 homes selling for a net average sold price of $107 per square foot. 3Q had the largest surge in sold prices at $114 per square foot. You may remember that inventory was low throughout the Denver Metro area at that time, and Belle Creek was no exception.
Over the past 12 months, Belle Creek homes sold for an average of $111 per square foot after 62 Days on Market. In 2011, they sold for an average of $102 per square foot after 83 DOM.
Sold prices for Cottage Style Homes (those under 1600 square feet) jumped to an incredible $115 per square foot - and that includes one extremely discounted HUD home sale.
The number of Days on Market for cottage style homes during 4Q was 39. This represents both an increase in sold price per square foot and a decrease in DOM when compared to 3Q.
The larger model homes also saw an encouraging increase in 2012. For the 4Q, there was only 1 home in this category sold, netting $111 per square foot. In 4Q 2011, there was also 1 home sold in this category - for $107 per square foot.
The overall pattern for 2012 for the larger model homes shows a strengthening sales trend. 3Q 2012 was Belle Creek’s high note for this style of home, which sold for a net average of $116 per square foot. (There were 3 such homes sold in 3Q) During 2Q 2012, 3 homes in this category sold. Of those, 1 was in a distressed situation (a short sale). Even so, the average sold price per square foot was $91 after 125 days on market. When you remove the short sale from the equation, the other 2 homes were snatched up very quickly - after an average of only 23 days on market!
This is also an improvement over sold prices in 1Q 2012, which averaged $89 per square foot.
Clean, well-maintained homes will always command the highest prices. This cannot be stressed enough! More and more buyers want to live in a “turn-key” home that doesn’t need fixing up and looks ready to move in. Having a pre-inspection and consulting with a home stager are two of the best investments you can make before listing your home.
The Bottom Line: Buyers really like Belle Creek! Those of us who live in Belle Creek know what a special 
community this is, and buyers see value in a neighborhood with a strong sense of community. Over the past 12 months, I have seen a shift in how buyers are searching for their home. While there will always be buyers who begin their search with a price point, number of bedrooms, or square footage, I continue to have buyers tell me “I want to live in Belle Creek.”
People want to live in Belle Creek, and have put all of the available homes under contract quickly. If you have been waiting to make a move, now might be the perfect time.
Remember that every situation is unique in this regard. For the past 4 years, I have been a REALTOR who specializes in Belle Creek. Be sure you contact me when you consider selling! 720-341-5235
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