Rock Creek Home Sales look Strong for 2010
Posted by Greg Smith on Saturday, November 21st, 2009 at 10:38am.
Superior Co homes sales are tied to Rock Creek Homes. The recent statistics are the strongest numbers we have seen in Rock Creek and Superior CO for the last two years. The Rock Creek Subdivision currently has 3.5 month of inventory on the market compared to 6.1 months of inventory in October 2008 and 4.7 months of Inventory in October 2007.
We are also beginning to see the median price of the properties sold is equal the current inventory on the market, which tends to indicate that Buyers and Seller have similar expectations in the market.
The next indicator to look at is the Average Days on market has jumped to 170 Days. This is a similar pattern that I saw when looking at the Louisville CO market a couple of days ago. This is a nice movement, since it says Buyers are beginning look at the stagnant inventory and determining it now makes sense. This of course can be the result of Sellers expectations becoming more realistic.
Between October 2007 and October 2008 we saw the median price of Homes in Superior and Rock Creek fall. The October 2008 to October 2009 shows nice trending upward in the last half of the year.
Overall Rock Creek is showing foundation for a strong market moving forward. When we combine this with the expanded Home Buyer Tax Credit through April of $6,500 and the fact that the employment rate in Boulder County has been strengthening Rock Creek is one of my best bets for appreciation in 2010.
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Nice blog post hope to read more of your articles! http://bit.ly/ztriP Thanks for the info.
Posted on Tuesday, December 1st, 2009 at 3:00 AM.