What’s selling in Stagecoach, Colorado? It used to be that the answer was Distressed Properties. Fully 76% of home sales in Stagecoach were foreclosures and short sales. That’s just not true anymore. Most of the REO (bank-owned) properties have sold over the last 18 months, and unless we see a second wave of foreclosures, we may be somewhere near the market bottom.
Look at the chart below which includes all the sales and pending sales since January 2011. Most of the solds were foreclosures, but the more recent pending sales are not. And if you look at the list-to-sold-price ratio, 6 of the 9 sales were 99% or more of asking price, usually driven by multiple offers.
This chart doesn’t include the townhomes which are now selling for around $70,000.
If you are looking to purchase a single family home in Stagecoach and take advantage of low interest rates, you should look this summer. I don’t know what the future holds and what other properties may come on as bank-owned, but I wouldn’t doubt if prices for single family homes and townhomes are within a few percentage points of being as low as they are going to get.
See all solds/pendings below.
|Development||Address||Status||Original Price||Asking Price||Sold Price||List to sold price ratio||REO Bank Owned?|
|South Shore Subdivision||31670 Shoshone||SOLD||$399,900||$289,000||$289,000||100%||Yes|
|South Shore Subdivision||24055 Arapahoe Rd.||SOLD||$284,900||$185,000||$172,500||93%||Yes|
|Red Hawk Village At Stagecoach||23720 Sagebrush Circle||PENDING||$224,000||$224,000||No|
|Red Hawk Village At Stagecoach||23700 Sagebrush Circle||PENDING||$250,000||$250,000||No|
|Red Hawk Village At Stagecoach||23600 Sagebrush Trl||SOLD||$229,900||$214,900||$212,500||99%||Yes|
|Morningside Subd||22503 Cheyenne Trl||PENDING||$245,000||$189,900||Yes|
|Morningside Subd||32588 Ute Trail||SOLD||$192,900||$146,900||$154,500||105%||Yes|
|Meadow Green Stagecoach||23460 Willow Island Trail||SOLD||$239,900||$239,900||$240,000||99%||Yes|
|Horseback Subdivision||33533 Seneca Trail||SOLD||$264,900||$249,900||$225,000||90%||Yes|
|High Cross @ Stagecoach||33225 Ramuda Trail||SOLD||$262,900||$262,900||$262,900||100%||Yes|
|Eagles Watch Sudivision||31080 Fallen Falcon Trail||PENDING||$224,900||$179,900||Yes|
|Eagles Watch Sudivision||31135 Fallen Falcon||PENDING||$296,000||$246,000||No|
|Eagles Watch Sudivision||31160 Broken Talon||PENDING||$250,000||$250,000||No|
|Coyote Run Subdivision||30225 Coyote Run||SOLD||$255,000||$255,000||$265,000||104%||Yes|
|Black Horse II Subdivision at Stagecoach||33015 Colt Trail||PENDING||$399,000||$349,000||No|
|Black Horse I at Stagecoach||33455 Filly Trail||PENDING||$225,000||$169,900||Yes|
|Black Horse I at Stagecoach||33485 Arabian Way||SOLD||$399,000||$399,000||$350,000||88%||No|