TrailMark Subdivision Littleton Market Report June to Sept. 2010
In the past 4 months 10 homes have sold in Trail Mark Subdivision, Littleton Colorado.
The Average days on market (DOM) was 158 days or about 5 months.
The average net to seller in Trail Mark Subdivision is $395,000.
The average mortgage payment for a $300,000 home is about $2,000.00 month. So it cost the seller $10,000. to have the house on the market for 5 months.
As an professional Real Estate agent it's important to point out to sellers the cost of over pricing a home. We understand not wanting to leave money on the table, but after 3 weeks on the market if the home is not getting 5-7 showings a week than the home is over priced between by 6% to 12%.
How important is pricing?
A price reduction of 6% to 12% on a $395,000 home is $20,000 to $45,000. That sounds like huge price reduction and don't kid yourself, it is! But remember subtract the following:
- $10,000 for 5 months worth of mortgage payments based on $2,000 monthly payment
- $2,500 for 5 months of bills
Total of $12,000 caring costs minus the price reduction equals a $8,000 to $33,000 price reduction.
And chances are if your home is priced well it will sell in 45 days!
To get an analysis of your home's value emailed to your inbox go to: What's My Home Worth?
SOLD
Count 10
Avg Total DOM 158
Median Total DOM 93
YOC Oldest 2000
Median 2002
Newest 2004
Original List Sold Net Sold
Average Price $437,200 $408,940 $395,728 $394,748
Median Price $438,900 $413,450 $398,750 $398,750
Avg Price/SqFt $184 $172 $167 $167
Avg Price/Fin SqFt $149 $140 $136 $135
Avg Price/Acre $2,343,389 $2,235,505 $2,162,495 $2,151,936
Avg Price/Avg List 96.77 % 96.53 %
Avg Price/Avg Orig 90.51 % 90.29 %
Median Price/Avg List 96.44 % 96.44 %
Median Price/Avg Orig 90.85 % 90.85 %
Lowest Price $234,900 $234,900 $228,000 $228,000
Highest Price $625,000 $625,000 $591,500 $591,500
High/Low Range $390,100 $390,100 $363,500 $363,500
Mode Price
Volume Price $4,372,000 $4,089,400 $3,957,280 $3,947,480
