Home Selling in 80503>Question Details

Jenn2561997, Home Seller in 80503

What is the average time on the market for a home in zip code 80503 at price range $210,000?

Asked by Jenn2561997, 80503 Mon Apr 5, 2010

What is the average time on the market for a home in zip code 80503 at price range $210,000?

3 bedroom 3 bath, 2 car garage 1650sqft

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12
Hi Jenn:

Unfortunately, limiting statistics to a particular price range in your area would produce a sample of homes too small to be statistically meaningful. However, I can report that, in the Longmont area, time-to-contract is running about three months or a bit less.

In January, 30 homes sold for an average price of $223,389 or a median price of $214,500. The average days-to-contract was 82.

In February, 44 homes sold for an average price of $217,292 or a median price of $211,000. The average days-to-contract was 95.

Sometimes number like this can be a bit deceiving. In both months, less than 10 percent of the available homes actually sold, meaning that some homes are languishing on the market, being withdrawn without sale or are "expiring" as a listing. In other words properly priced, well-styled homes in desirable locations are probably selling while other homes are not.

I hope this helps. Please call me if you would like more information.

Ron Rovtar
Prudential Real Estate of the Rockies
Boulder County
303.473.1926
Web Reference: http://www.rovtar.com
1 vote Thank Flag Link Mon Apr 5, 2010
It is difficult to give you an accurate answer because most homes are relisted several times before they sell. If a home has been on the market for 3 years, it may only show 120 days on the market (because it was last relisted 120 days ago). Are you trying to determine the health of the market for that zip code? Are you interested in a specific home?

There are more accurate ways to determine value or trends other than days on market such. Most consumers use days on market becaus ethat is what is available to them. I would recommend using inventory levels - figure out how many home sell each month and then how many homes are for sale. If the inventory level is less than 5.8 months than prices are rising and it is a seller's market - over 5.8 months of inventory is a buyer's market with price trending downwards.
1 vote Thank Flag Link Mon Apr 5, 2010
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That price range was the sweet spot last year. If you're still considering selling, that is a good price. You should have a market analysis performed.

A home that is priced right and staged well can attract multiple buyers these days.

There are plenty of examples of homes that have sold the day they went on the market. That includes homes priced like this one and higher.

Best regards,
Suz
0 votes Thank Flag Link Fri Jun 21, 2013
As of June 10, 2013 if I look at the past year there have been 50 sales from $180k to $230k which would be considered within a comparable price range. Days on the market is 62 days, with sales at 100% of asking over the past 3 months price and 2.6 months of supply currently. Obviously we are in a shortage of inventory... The absorption rate is 4.17 homes/month in this price range. Oh joy, it's nice to see it moving up!
0 votes Thank Flag Link Mon Jun 10, 2013
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Days. Maybe even hours for that price range.

I have placed homes on the market and the seller has an offer the same day.

Sellers, this is the market these days. Homes priced between 200 and 1 million are going quickly, too. We know that Realtors are recommending sellers price aggressively, too, so they attract multiple bids. Smart sellers are staging and using Realtors to market their homes.

See my other posts for more advice on selling and buying in Boulder County.

Best regards,
Suz
720.810.0683
0 votes Thank Flag Link Thu May 30, 2013
||||||||||||||||||||||||||||||| UPDATE May 2012 ||||||||||||||||||||

Unofficially, homes priced in this range are being sold in less than a month. Many comps that I research are being sold in a matter of days. That's unofficially.
0 votes Thank Flag Link Sun May 13, 2012
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For all of Longmont, single family detached homes averaged 117 days on the market in the last report issued in January, IRES reports. That includes 36 homes that took more than 120 days; 12 homes were sold in the first 30 days.

Homes are moving off the market at a faster clip than last year at this time with the average at 136 days.

Trulia reports that the average listing price right now is $386,600.
0 votes Thank Flag Link Sun Feb 26, 2012
Hello Jenn,
I hope someone was able to assist you with your relocation more than a year ago
.
Longmont has been my home for more than 25 years. I've been a residential real estate agent - a Realtor - for 10 years. Richmond American Homes and Engle are two builders I have worked for in my 25-year career. I've owned and rented several lovely homes in Longmont. I track the market closely. If you have questions, call me. I am accepting listings at this time.

Best,
SuZ
PML of Longmont, CO
720 810 0683
bouldersuz@gmail.com
0 votes Thank Flag Link Mon Feb 13, 2012
I am listing ASAP. I am waiting on a relocation contact from my company. This will be an Amgen Primacy Relocation approved relator. They need to assess the value of the home. If you have buyers looking, let me know. They can come by 3720 Staghorn Dr Longmont, CO 80503. I can rush the company if I have potential buyers.
0 votes Thank Flag Link Tue Apr 6, 2010
The short answer is anywhere from 45 days + to closing. Your time on market will depend on age, condition, location, and other factors in addition to what you have provided.

Now is a good time to sell with the buyer tax credit contract deadline fast approaching. My buyers are finding the inventory pretty well picked over and are eagerly watching for new listings as they hit the market. I would welcome the opportunity to talk with you about your plans.
Web Reference: http://www.genehayden.com
0 votes Thank Flag Link Mon Apr 5, 2010
In 80503 there are 12 homes for sale between $200k and $225k. 6 of the 12 are under contract so essentially there are only 6 for sale. In the last 12 months 32 homes have sold in 80503 between 200 and 225k; so 32 divided by 12 equals 2.667 homes sell per month. Next take the 6 homes available and divide by 2.667 per month and we have an inventory level of 2.25 months. This means that if no new homes come on the market that in 2.25 months there will be no more homes left for sale.

This is great news if you are selling and bad news if you are buying. There are too many buyers and not enough sellers which will ultimately drive up prices.
0 votes Thank Flag Link Mon Apr 5, 2010
Jenn,

For homes, priced between $210,000 and $220,000, located in zip code 80503, the average days on the market for the past 6 months as been 99 days; one as few as 61 days and one as much as 169 days. Keep in mind, however, that some of the aforementioned homes went through numerous price adjustments before they actually went under contract. Pricing a home for sale in todays market is more important than ever. Over pricing a property for sale can not only add to the amount of time it takes for it to sell, it can actually hurt your opportunities for selling it at the highest price.

Please contact me if I can provide additional information or if you would like for me to provide a free, written competitive market analysis.

Best of luck!
0 votes Thank Flag Link Mon Apr 5, 2010
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