Are Home Prices Softening at Blackstone Country Club?

Are Home Prices Softening at Blackstone Country Club? For the past few years, Denver and the surrounding markets have seen double digit appreciation in home prices and extremely hot sales. Homes have literally been selling within hours of listing the home for sale. The fall is usually a bit slower of a mrket and this fall is no exception. 

   The past 6 months in Blackstone Country Club have had brisk sales, both resale and new construction as more than 10K people a month are moving to this great state and new construction can not keep up with demand. As with most newer communities the turnover rate is a little higher than in established neighborhoods, for many reasons, but primarily a lot of relocating buyers will select a new community when they first move to a new area, only to realize that they prefer somewhere closer to work, or recreation or whatever their reason.

Why would I think that home prices are softening a bit in this community, first of all, I specialize in Denvers golf course communities so I track the numbers every month in every community, Blackstone is one of my favorites simply because of the popularity and growth in the area. Over the past 6 months there have been 42 sales in Blackstone CC, with sales prices ranging from $429,950-850K, there are currently 8 homes under contract and 30 homes available to buyers, which is twice the number of homes of all but one or two other golf course communities.

A buyer that wants a great golf community but does not want to pay extreme prices, would be very happy withn what they find here. Why is Blackstone a great place to seek your golf course home, of the 30 homes currently on the market, 23 have had a recent price reduction! When a particular pocket has plenty of inventory, the sellers start to get a little anxious and decide it might be a good time to reduce the price to attract new buyers.

Now these are not small homes, the average square foot of homes for sale is 5,000 with an average of 4 bedrooms and 4 bathrooms, you would be hard pressed to find homes half this size on most golf courses around the Denver Metro area.

When you are ready to find your golf course home, give me a call, golf communities are what I focus on and have worked in for over 10 years.