Each year we wonder what kind of market we are going to get. This year so far the theme seems consistent with the last few years – not enough inventory for properties under $500k. There is so much pressure for townhomes and detached single family homes in this price range. If you are appropriately priced and have a few updates you should hold on to your hat because there will be plenty of buyers.
This home in Bristol Cove in Centennial, Colorado has a 3 bedrooms, 3 bathrooms, 1818 square feet above grade, an unfinished basement, 2 car garage, and a little patio. The main floor master, updated bathrooms, granite counters, and wood flooring where enough to secure 6 offers in about 2 days time. The price was $385,000 and that seemed fair when we did the market analysis and priced the home. Now its under contract and we are working toward the inspection phase.
Buyers that are frustrated searching for townhomes under $400k and detached homes under $500k should see if they can bump the price range up a bit because you can get twice the home, for 1/4 of the extra price. Not everyone can do this but if possible its a way to get out of the multiple offer nightmare and secure a much nicer property.
If you have any questions contact me at 720-203-9624 | [email protected]
Todd Groth | LIV Sotheby’s International Realty | Broker Associate