May 2023 Real Estate Summary
Real estate summary provided Ben Broughton, Real Estate at Copper Mountain
April In Review
April saw six closed transactions, a healthy increase over March's two sales. Five of them were in the Center Village, and the last was a duplex up in Lewis Ranch which had been pending for over three months.
Diving into the details, our Days on Market (DOM) continues to increase, the average is up 8 days to 45 as of 4/30. The price per SQFT jumped substantially to $953, but once again with only 2 sales in March the comparison isn't very useful.
As of May 4th, there are 5 non-deed restricted properties under contract, which is a decrease of 2 over last month. One continues to be a Lewis Ranch home under construction, three are in the Village at Copper, and the final one is in the Center Village. I expect to see the majority of these close this month, check back in June's newsletter for details on those.
In addition to the homes above, there are 3 deed restricted employee housing homes under contract. While we don't typically include these in our data metrics, I think it's a great sign for the market in general. Even with the rapid climb in interest rates, this type of property has found recent success too.
April By The Numbers
Total Sales: 6 sales
Average PPSF : $953
Average Days On Market: 45 days
Average Sales Price: $1,228,000
2023 By The Numbers
Total Sales: 17 sales
Average PPSF : $1,011
Average Days On Market: 29 days
Average Sales Price: $1,238,000
Current Market Conditions
There are currently 6 listings on the market today, a decrease of 3 since last month. The PPSF decreased as well, falling $53 to $1,039. The days on market increased to 123, but with only 6 listings total this is a hard number to read anything into.
Current Listings
Active Listings: 6 active listings
Average PPSF : $1,039
Average Days On Market: 123 days
Pending Listings: 5 listings
Real estate summary provided Ben Broughton, Real Estate at Copper Mountain
