I get a number of inquiries from potential sellers who would like to sell their lots, and over the conversation or email exchange, have the unfortunate job of telling sellers their lots probably won’t sell for the price they are seeking…if they sell at all.
Stagecoach is a community with over 2000 lots and only 300 of them have single family homes built on them. The other 1800+ homesites generally have over 100 of the owners looking to sell. As of the end of June, 2014, there are 111 lots for sale ranging in price from $2500 for a lot in South Station II to $389,000 for a 35 acre parcel in Bushy Creek Meadows. Thirty three of those lots are priced below $15,000. To have a chance of selling, owners have to price their land below their purchase price–and even then, there haven’t been enough sales to know what price will bring a buyer.
Since January 2014, only 11 lots have sold in Stagecoach with seven of those selling between $2600-$6000. (See the full list below.) That means there is a 20 year supply of Stagecoach lots if no other lots came on the market. It’s frustrating for sellers to see so little activity and interest.
Single family home and townhome sales have rebounded nicely since the dark days of the economic downturn when literally 70%+ of the homes sold in Stagecoach were distressed. The demand for lots will come back at some point; we just aren’t there yet.
|Development||Address||Asking Price||Sold Price|
|South Station||TBD Lot 60, South Station I||$3,500||$2,600|
|South Station||TBD Saddle Horn Way||$3,200||$3,100|
|South Station||TBD South Station I, Lot 2||$3,200||$3,100|
|South Station II at Stagecoach||TBD South Station II Lot 87||$3,200||$3,100|
|South Station II at Stagecoach||TBD South Station II Lot # 69||$4,000||$3,900|
|Overland Subd||Lot 118 Overland||$5,799||$5,799|
|Morningside Subd||Lot 44 Morningside I||$9,900||$6,000|
|Morningside Subd||32439 & 32443 Ute Trail||$14,500||$12,500|
|Black Tail Meadows – Neighborhoods at Youngs Peak||23575 Stagehorn Trail||$32,000||$29,500|
|Neighborhoods @ Youngs Peak||23430 Division Road||$29,500||$29,500|
|MiddleCreek@Stagecoach||29760 Riffle Run||$33,000||$30,000|