THIRD QUARTER 2020 MARKET REPORT

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Bottom Line on Top: Douglas County Horse Properties are in a solid Sellers Market

  • Douglas County Horse properties are homes listed within Douglas County, Colorado that have 3 or more acres, and the zoning allows for horses. 

  • We have a limited number of homes for less than $1M on the market. If you have been thinking of selling, there is still time before the holidays. I will put together a solid strategy to help you meet your goals.  

  • If you are a buyer, don’t be discouraged. We know more properties will continue to come online. Let’s get organized now so that you can be a competitive buyer when your perfect property gets listed. 

Buyers scoop up available properties    

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  • In the first half of 2020, we saw fewer horse properties closing. And that trend changed dramatically in August. Douglas County broke the 5 year record of 38 sales in one month, previously set in May of 2015.

  • For October 2020, we have approximately half of the typical inventory. Less than 50 homes available compared to 80-100 units normally.

Closing prices frequently higher than asking prices

  • Year over year average sales price has increased 2%, but month over month it is closer to 20%.

  • Last quarterly report, we expected to see prices increase and that’s exactly what has happened. We are experiencing multiple offers over asking price. 

  • Given the uncertainty of the election and the seasonal holiday slow down, this fall and winter will be hard to predict. Do the trends continue to indicate a seller’s market or do we see a more balanced situation? 

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And now the fine print: The above information has been researched from the Metro Denver MLS System (www.REcolorado.com) by Penny Smith of HomeSmart Realty based in Larkspur, CO.  It is believed to be accurate, but is NOT guaranteed. &…

And now the fine print: The above information has been researched from the Metro Denver MLS System (www.REcolorado.com) by Penny Smith of HomeSmart Realty based in Larkspur, CO.  It is believed to be accurate, but is NOT guaranteed.  Every property will have unique factors affecting value such as location, condition, acreage, quality, size, age, upgrades and features. This is reflected in the wide range for “High and Low Price per Finished Square Feet” shown above.  A thorough in-person assessment by an experienced real estate broker or licensed real estate appraiser is recommended to determine the actual current market value on an individual property.

www.wickedwindyranch.com

PennySmithRealEstate@gmail.com

Dave Gardner's Results Team

HomeSmart

P Smith