Tuesday, February 2, 2010

What's Going on in Your Neighborhood, Belle Creek? Update for February 2010

What a difference a quarter can make.

It is now 3 months since I blogged about the Real Estate Market in Belle Creek.  Since then a lot has happened, not the least of which were Thanksgiving and Christmas.  Couple that with a few snow storms and it would seem to be a dismal time to sell property in Belle Creek.

Maybe.  Belle Creek, as any neighborhood, is situated in its own little Real Estate world.  You've heard the adage "location, location, location." A look at the numbers over the last 12 months reveals what is happening in this particular location:

  • 20 Homes have sold in Belle Creek over the last 12 months.
  • The average Price per Square Foot of sold homes was $108.59
  • This represents a decrease in per Square Foot sold price in 2009 over 2008, as a whole
  • Price per Square Foot increased greatly in the 3rd quarter of 2009, then dropped modestly in the 4th quarter of 2009
What this all means for Home Buyers is that it is still a great time to buy in Belle Creek.  Prices are down  in general, but seem to be recovering.  If you are looking for a well built home in a thriving community, now is the perfect time to get into your Belle Creek dream home.

For Sellers, the news is still encouraging.  Months of Inventory in Belle Creek are at 4.8.  This means that based on sales over the last 12 months, it will take about 4.8 months to sell off the existing inventory.  Put simply, the Belle Creek Real Estate Market is fairly balanced, with a slight lean toward being a Seller's Market.  As the economy as a whole stabilizes, we will see our home prices come back up.

This is good news for all of our neighbors.

To see available properties in Belle Creek, or in any Denver metro neighborhood, 24 hours a day, please visit my website.

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