The Market for Saddle Rock Real Estate in 2009
Saddle Rock real estate and the communities that surround it had seen a huge drop in sales during 2008, which many communities have also endured. The first few months of 2009 have seen the continuation of some interesting trends and reinforced the underlying strength of this neighborhood.
In 2009 so far, there have been 88 homes sold in Saddle Rock at an average price of $285,332. The average selling time for the homes has been 97 days while the concessions have been in the neighborhood of $2,500.
While this represents a 5% drop in average prices from the second half of 2008, there are several factors that suggest the underlying value of Saddle Rock real estate is continuing to hold up well. It doesn't help that there have been no sales above $600k, and very few above $500k. This drop-off in high-end sales and prices, is consistent with broader market trends in Denver, and a significant factor in the drop in average prices.
You must keep in mind that the averages have been lowered due to the increase of sales below $300k. Because of the $8,000 first home buyer's credit, lower interest rates, first time buyers, and the burning off of short sales, the Denver market has become very similar to Saddle Rock's market. There is an excellent chance that the average price is going to rise again in the summer of 2009 due to the length of time that homes are listed for and the fact that lender owned properties are decreasing.
If you want to find a good Saddle Rock real estate deal, you should expect that the number of bargains will drop throughout the 2009 year. If you are looking for a bargain above the $500k price range they can still be found however lower price ranges will continue to rise unless more economic hard times hit the area. Sellers in the $500k range should not expect a bounce back in their market until the lenders have resumed lending on higher loans and until buyers have better job security.
The Denver market will continue to strengthen during 2009 while you can expect the Saddle Rock real estate market to stay resilient. Sellers that price their homes well will receive fast results similar to those in the past. The underlying value of the homes in Saddle Rock real estate combined with the minimal downside risk should give buyers confidence even if they don't find a bargain. - 23223
In 2009 so far, there have been 88 homes sold in Saddle Rock at an average price of $285,332. The average selling time for the homes has been 97 days while the concessions have been in the neighborhood of $2,500.
While this represents a 5% drop in average prices from the second half of 2008, there are several factors that suggest the underlying value of Saddle Rock real estate is continuing to hold up well. It doesn't help that there have been no sales above $600k, and very few above $500k. This drop-off in high-end sales and prices, is consistent with broader market trends in Denver, and a significant factor in the drop in average prices.
You must keep in mind that the averages have been lowered due to the increase of sales below $300k. Because of the $8,000 first home buyer's credit, lower interest rates, first time buyers, and the burning off of short sales, the Denver market has become very similar to Saddle Rock's market. There is an excellent chance that the average price is going to rise again in the summer of 2009 due to the length of time that homes are listed for and the fact that lender owned properties are decreasing.
If you want to find a good Saddle Rock real estate deal, you should expect that the number of bargains will drop throughout the 2009 year. If you are looking for a bargain above the $500k price range they can still be found however lower price ranges will continue to rise unless more economic hard times hit the area. Sellers in the $500k range should not expect a bounce back in their market until the lenders have resumed lending on higher loans and until buyers have better job security.
The Denver market will continue to strengthen during 2009 while you can expect the Saddle Rock real estate market to stay resilient. Sellers that price their homes well will receive fast results similar to those in the past. The underlying value of the homes in Saddle Rock real estate combined with the minimal downside risk should give buyers confidence even if they don't find a bargain. - 23223
About the Author:
John Fitzgerald is a realtor/real estate investor with 15 years experience in Denver, Colorado. Visit his site Saddle Rock Real Estate that is updated frequently and discover more information about the Saddle Rock homes area before making any major decisions.
posted by X - Men @ 3:01 AM
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