Wondering how the market is doing in The Conservatory? Each month I do the statistics for this neighborhood to see how long homes are on the market, number of homes sold and how the home values are doing. This is how you stay on top of a market shift. Below you will find the update for this month and what is currently available.
Homes in The Conservatory have basements, some are finished, some have mountain views and were built from 2002 to 2016. There are ranch models along with two story and multi-level homes ranging in square footage from 1,387 to almost 3,000 above ground. DR Horton/Continental was the original builder, but now Richmond, Standard Pacific and Carpace have homes in this neighborhood also. There approximately 1,400 homes in this neighborhood.
You will find this neighborhood located North of Hampden between C-470 and Tower Road in South Aurora 80013. The Conservatory has been desirable to buyers with its newer construction homes, several pocket parks, trails for hiking or walking the dog, being a pool community and easy access to C-470 and Denver International Airport. Grocery shopping and many dining options and plentiful retail therapy is within ten minutes. Southlands Shopping Center is off C-470 and Smoky Hill Road offering not only shopping, but a 16-screen movie theater, many dining options, a hotel, Farmers Market in the Summer along with outdoor concerts and many service providers.
The Current Market
10 active listings priced between $388,000 and $535,000
14 average days on market
You can find the current Active Homes for Sale in The Conservatory here
12 homes currently are Under Contract ranging from $370,000 to $524,000
Average days on market are 11 days
The Conservatory market is still a Seller's market, and now are seeing many buyers out looking for homes, and not much inventory.
What happened in May 2018?
4 homes SOLD ranging from $365,000 to $513,000 (last month was 8 sales)
These homes were on the market for only 10 days (last month was 4 days)
Sellers saw 100.01% to list price (last month was 100.96%)
We are seeing more inventory coming on the market, but still not enough for the amount of Buyers looking for a home. In these price ranges, we are continually seeing multiple offers.
Here is what all of 2017 looked like -
Total Sales - 104 sales (148 in previous year)
Average Days on Market - 9 days (10 in previous year)
Average Sold Price $402,500 ($375,000 in previous year)
Sellers saw 100% sales price to list price (100% in previous year)
Are we in a housing bubble? Economists around Denver are saying all the factors say NO. The unemployment rate is very good, and significantly lower than the national average. Supply and demand continue to remain strong and we are see an influx of new residents coming into Denver looking for housing.
If you are interested in homes for sale in The Conservatory, or would like to discuss your options to sell, please give me a call. I live and work in the Aurora area, and am an experienced REALTOR® in this strong Seller's market.