July 2015 Market Update for Fox Run

July 15, 2015
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Active Listings:4
All detached single family homes.
Average List price:$297,000
Aver Square Footage:2,480

Under Contract Listings: 12 total
9 attached single family
3 detached single family.
Average Price Per Sq Ft Attached:$143
Average Price Per Sq Ft Detached:$125

Currently the only active homes for sale in Fox Run are detached single family homes. They days on market has been averaging 6 days but the current active homes has reached an average of 23. This shows that these are getting priced too high.

My finding is that the community tends to sell very well under $295,000. The available listings are at the very top of the trend or well over. These do not appear to have significant upgrades or changes to justify the higher price.

Anything that does not in 2 weeks or less shows there is something wrong with the property and/or it is drastically overpriced.

Fox Run sold 11 homes in June 2015. The majority of sales come from the attached singly family townhomes. These homes were only on the market on average of 4 days before going under contract. The overall sales average has reached 103% of the list price.

Sold Listings: 11 Total
8 Attached Single Family
3 Detached Single Family
Attached Average Sales Price:$205,300
Detached Average Sales Price:$264,883

The majority of sold homes are coming from the attached townhomes, primarily the smaller 1 car garage units.
Based on the last month our information tells us there is still a high demand for homes in Fox Run.

I predict that singly family homes that are still available will see significant price reductions that will bring them down to market value. It is likely we will see another 5-7 homes come on the market. As long as they are priced correctly they will all be under contract within the first week.

Sellers are still going to be in full control for the month of July and throughout the summer. They will see offers for over 100% of the list price. If you want to sell, now is the time to do it!

 

*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.