May 2016 market update

There were 18 homes sold in May 2016 within Buffalo Run and Outlook. The year before there were 13.  We really saw an increase on homes that were put on the market in May of 2016 which were 32 compared to only 17 in May of 2015! Part of the reason for the double increase is the local builders really amped up their sales in 2016! 12 of the 32 homes that went on the market in May were new builds!

The AVERAGE price per square foot increased from $154 in May of 2015 to $169 in 2016! We really saw the biggest jump in prices in the $250,000-$300,000 price range. This stands to reason because that price range is in the highest demand. Townhome prices increased as well. In May of 2015 townhome prices were averaging  $199,000 and the highest sold in May of this year was $230,000! 

It is still a sellers market and Buffalo Run/Outlook are still in line with the rest of the Front Range as far as appreciation! Looking forward to seeing June’s numbers!!

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