We are half way through the year and the changes continue in West Arvada! For an example… like the intense road work underway on Indiana!
The Beltway project is inching forward and looks to be reality by 2022 or 2023. King Soopers is open and real estate values continue to rise. Median home prices in our area have risen 6.83% compared to last year at this time to $554,944.
Likewise, the housing market will have officially changed this year as we close out the new construction of the larger developments and begin the process of infill in our neighborhoods. We will be considered a mature market in housing, and yet we have a long way to go in commercial development.
One notable change we see unfolding in population to and from our area are the Boomers transitioning into the next phase of life. We have served families moving out to their dream territory, and likewise we are serving a growing number moving in to accomplish the same result as they experience the climate and lifestyle of Denver.
Our market was a little different the first half of 2018 as the resale market cycle was a bit delayed. Overall the activity is still notable! In the $500,000 -$600,000 range we have sold 97 properties versus 105 for the first six months of 2017. In the $600,000 – $700,000 range we have sold about the same. In the $700,000 – $800,000 range we are 3 short of matching last year! In the $800,000 – $900,000 we are 5 ahead of last year! In the range of $900,000 – 1M we have sold twice as many as this time last year! Finally, in the over $1.25M range, we are looking the same as last year.
Another trend we are seeing is the re-making or re-modeling of the existing houses in our community. Opportunities abound to take a property from what it is – to what it can be! We invite you to visit with us on how we can serve you best!
- Glenn Ribble