Arvada CO Homes Under $150,000 November 2011

What this report tells you: In Arvada home sales under $150,000, foreclosures are still selling at a faster rate than homes listed by individuals. This makes sense, as they are usually cheaper and in worse condition and buyers are still hunting for bargains that can be fixed up. And we're seeing a big improvement in days on market, probably because there's no short sales skewing that statistic in this one report.

Click this link to see Arvada Home Sales in the other price categories.

The following information was obtained from Metrolist on December 2, 2011. This report includes only detached single family Arvada homes that sold for $150,000 or less. To see reports on other price categories of Arvada home sales in November, 2011 click here: Arvada home sales November 2011

• Seven Arvada homes sold in November 2011 under $150,000. 35 median days on market. All 7 were foreclosures, no short sales. So 100% were distressed sales.

Arvada homes that sold under $150,000 in November 2011 were found in the following neighborhoods:

Warner & Arnetts Parkway Estates

Far Horizons HLH Replat

Bobricks Rainbow Northridge

• 2010 saw a similar number, 8 Arvada homes sell during November below $150,000, with a much higher 97 median days on market. 6 were foreclosures, 1 was a short sale. An 88% rate of distressed sales.
• 2009 saw 10 Arvada homes sell during November below $150,000, staying on the market for a median of 62 days. 6 were foreclosures, 2 were short sales, for an 80% distressed sales rate.

Currently, there are 23 homes for sale and 10 under contract in this price range. Of the 23 that are for sale, 4 are foreclosures, 6 are short sales, and the rest are being sold by individuals or estates. That's only a 43% rate of distressed homes.

If you would like any more details or to see any of these homes, please give me a call.

Of the 10 currently under contract, 4 were short sales and 5 were foreclosures. 90% distressed sales. Foreclosures are going under contract in greater numbers than the 'regular' sales, possibly due to price. The 'under contract' group shows an average price per square foot of $100, and an average price per finished square foot of $75, while the 'for sale' group shows an average price per square foot of $120 and an average price per finished square foot of $115.

(I'm using the term 'distressed sales' to refer to short sales and foreclosures. A 'regular' sale may also have been 'distressed' in the sense that the home was in need of major work.) Click this link to see Arvada Home Sales in the other price categories.

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Copyright © 2011 Joetta Fort