Superior Real Estate July Market Update

Here’s your market update for Superior real estate for July 2008. This time you’ll see data for both single family homes and condominiums.

This includes other areas besides Rock Creek: The Ridge, Sagamore, Original Town, Saddle Brook and The Summit are included in the data if there are sold properties in those areas.

I’ve been noticing at open houses on the weekends that many sellers in Superior are kind of scratching their heads to try and determine what kind of a market exists there. Prices generally have been flat for a while from my personal experience in showing and researching homes in the area.

There are a very few homes listing by agents that don’t do a lot of work in the Boulder or Superior general area, and those homes they’ve listed have sometimes been a little overpriced at times. This overpricing has sometimes skewed the average days on market (DOM) a little.

There’s one on Hyacinth that’s been on the market since December of 2007. There’s really nothing wrong with the home. What stands out to me statistically is that it’s been very overpriced compared to other homes for sale that have already sold in the area. It finally got a price reduction as of 8/5/8 ( I’m writing this on 8/6/8). Maybe a little birdie whispered something in the seller’s ear. Being overpriced is one problem, and the fact that it’s not being listed in the local multiple listing service (MLS) means many folks don’t even come across it when researching property available for purchase in the Superior area.

Here’s your Superior real estate stats for July:

Single Family Homes:

Total Number Sold: 17

Average Price: $456,823

Median Prices: $425,000

High Price: $745,000

Low Price: $285,000

Average Days On Market (DOM): 66

From Ajax St. on the low end to Monroe on the high end, there are homes selling at all price ranges in Superior if they’re presented well and priced right. Oh yeah, and marketed properly so that buyers can actually find the house when it’s for sale. 😉

What stands out about the home on Monroe is that it has all sorts of great things that buyers really want when spending upwards of 3/4 of a Million dollars — such as a finished walk out basement with a home theater, wine cellar, entertainment bar, sauna, a beautifully appointed gourmet kitchen with top-of-the line appliances and finishes, mountain views, and a professionally landscaped yard.

Condos:

Total Number Sold: 4

Average Price: $228,775

Median Price: $153,600

High Price: $435,000

Low Price: $150,000

Average Days On Market (DOM): 98

What’s good to know about these sold condos is that three of them are in the SaddleBrooke project and are smaller 1 or 2 bedroom units. One of them: the unit that sold for $435,000, is in The Ridge and it’s a brand new building with lots of very up to date features like granite, tile and high end touches that really don’t make it a fair comparison to the Saddle Brooke units.

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