«

»

May 04

Northgate Homes for Sale, Market Snapshot

Northgate Homes for Sale, Market Snapshot

The Northgate Homes for Sale are doing quite well as far as market activity goes.  The desirable Northside of town and the high caliber neighborhoods always attracts a lot of attention.  Close to shopping, but with larger sloping lots, a couple of high end golf courses, unique architecture, and some screaming deals make for an inviting place to shop.

Northgate Homes for Sale.

 Let’s begin to analyze the data.  The first chart is of all HOMES for sale currently, as of 5/4/2011.

 

Northgate Homes for Sale

All active homes for sale

Currently there are 204 Northgate Homes for Sale.

The next image is of the statistics for Single Family homes for Sale in Northgate.

Northgate Homes for Sale

All active single family homes

 The next image is of the statistics for Condos, Town Homes, and Patio Homes for Sale in Northgate.  Currently there are 13 Condo, Town Homes, and Patio homes for sale in Northgate.

Northgate Homes for Sale

All Condos Town Homes, and Patio Homes

 Now let’s move onto the sold statistics…

  • Sales data are filtered by Type of property

  • Only using solds data since 10/1/2010, just they way an appraiser would do it.

The next image is of the statistics of all HOMES that have sold.

Northgate Homes For Sale

All homes that have sold since 10/1/2010

The next image is of the statistics of all single family homes that have sold.

158 Single Family homes have sold since 10/1/2010.

Northgate Homes For Sale

All single family homes sold since 10/1/2010

The next image is of the statistics of all the Condos, Town Homes, and Patio Homes that have sold.

12 Condo, Town Homes, and Patio homes have sold since 10/1/2010.

Northgate Homes for Sale

All Condos, Town Homes, and Patio Homes that have sold

So what can take away from this data?

  • Owning a Town Home, Condo, or Patio Home in Northgate is a long term proposition.  Not necessarily a bad concept.  It is beautiful up there.

  • Town Home, Condo, or Patio Home represent less than 10% of the market activity so if the single family homes increase in price too much, your Town Home, Condo, or Patio Home will be worth much more and sell faster.

  • Single family homes certainly command a premium.  The drop in % points compared to list price is not that much.  FOr example the average list price wass $347,123.  Compare that to the actual sales price of $338,255.  About a 3% drop.  That is a nice comforting factor for any home seller.  Meaning you can almost say with certainity your home will sell for almost full value.

  • Average time on market is not long either.  That is for Single family homes.  130 Days or 4.5 months.

  • Average time on market for Town Home, Condo, or Patio Homes is much longer.  292 days is a long time to wait.

  • Finally with 204 homes on the market currently and 158 homes sold since 10/1/2010.  The market absorption rate is 26 homes per month.  At that rate all the active homes will sell in approximately 7.75 months.  Not bad for a $300,000+ neighborhood.

If you are a proud home owner of a Northgate home and would like to try selling this summer, contact me.  I am local Real Estate Agent in Colorado Springs who can help you.

Eric Richards 719-321-4727.

Analytics Plugin created by Web Hosting