Superior Colorado Market Update December, 2011Posted by Doug Smith on Tuesday, December 13th, 2011 at 8:10am.
Superior Colorado Market Update December, 2011
Superior, Colorado located next to Louisville, CO and just a short drive from Boulder is a great community to call home with first class schools, shopping and amenities Superior has something for everyone. Taking a look at the Superior market November to November we are seeing some improvement in the overall Market Dynamics, but all in all the market has been fairly flat. This summer experienced an inventory spike but sales mirrored the spike represented by the chart below:
When we look at the Sales Absorption we are pushing above 17.5 % this November compared to 15% last year and 12.5% two years ago. At this pace we truly will be in a balanced market next year and may push into slight Sellers market in 2013 if we grow at the same pace. All of this depends on jobs and consumer confidence.
Looking at November closings we have seen a slight decrease in the sales price per a square foot from $142 to $133 over the past two years, which is 6% or 3% per a year. If the Absorption rates stabilize or increase will see this depreciation flatten and we may see a slight increase in values if the Absorption rate pushes above 20%
As always if you are looking for the facts to help you make a good buying decision along the Front Range of Colorado give us a call or shoot us an email we are here to help and we know the market.