February 2019 Real Estate Market Report for Superior

mikejgold Real Estate Market Reports Leave a Comment

How is the real estate market in Superior?

In this post and video I will outline the fundamentals of the Superior Colorado real estate market by reviewing demand (sold and under contract listings) and supply levels (active and new listings) within the city of Superior for the month of February 2019 as well as review where the market has been via lagging indicators (sales price), and current market health with month’s supply of inventory, days on market and list to sales price ratio.

Oh, by the way, do not forget to check out how the overall metro Denver Real Estate market is doing by clicking here!

Superior Colorado Real Estate

Single Family Homes

This week the median list price for Superior, CO is $680,000 with the market action index hovering around 46. This is less than last month’s market action index of 53. Inventory has held steady at or around 21.

Market Action Index

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.  Today’s number is 46 which shows a Strong Seller’s Market

Market appears to have begun to cool. As we’re still notably in the Seller’s zone, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s zone.

Superior, CO (Condos)

This week the median list price for Superior, CO is $775,000 with the market action index hovering around 34. This is an increase over last month’s market action index of 32. Inventory has held steady at or around 8. Click here to stay informed with the Superior market!

Market Action Index

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.  Today’s number is 34 which shows a Slight Seller’s Advantage.

In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.

Feb-18 Feb-19 % change Jan-19 Feb-19 % change
New Listings 11 22 50% New Listings 16 22 27%
Homes for Sale 10 19 47% Homes for Sale 14 19 26%
Under Contract 9 17 47% Under Contract 10 17 41%
Closed Sales 16 13 -23% Closed Sales 8 13 38%
Average Days on Market 62 88 30% Average Days on Market 40 88 55%
Months Supply of Inventory 1.1 1.1 0% Months Supply of Inventory 1.4 1.1 -27%
Average Sale Price  $546,166  $581,285 6% Average Sale Price  $560,764 $581,285 4%
Average Percent of Original List Price 99.80% 96.90% -3% Average Percent of Original List Price 98.20% 96.90% -1%
Avg. Price Per Tot Sq Ft 234 260 10% Avg. Price Per Tot Sq Ft 272 260 -5%

New Listing - 15 hours online
$610,000
Single Family Home For Sale
Active
4
BED
3
TOTAL BATHS
2,964
SQFT
1354 E Weldona Way
Superior, CO 80027
Ranch Creek Ranch Subdivision
New Listing - 4 days online
$825,000
Single Family Home For Sale
Active
5
BED
4
TOTAL BATHS
3,985
SQFT
880 South Pitkin Avenue
Superior, CO 80027
Superior Subdivision
Open House 04/20 at 12PM
$600,000
Single Family Home For Sale
Active
5
BED
4
TOTAL BATHS
2,363
SQFT
2916 Coneflower Court
Superior, CO 80027
Rock Creek Ranch Subdivision
New Listing - a week online
$547,900
Townhouse For Sale
Active
3
BED
5
TOTAL BATHS
2,014
SQFT
574 Discovery Parkway
Superior, CO 80027
Downtown Superior Subdivision
New Listing - 2 weeks online
$585,000
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
1,650
SQFT
2371 Stonecrop Way
Superior, CO 80027
Downtown Superior Subdivision
New Listing - 2 weeks online
$990,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
4,408
SQFT
209 8th Avenue
Superior, CO 80027
Coal Creek Crossing Subdivision
New Listing - 2 weeks online
$520,900
Townhouse For Sale
Active
3
BED
4
TOTAL BATHS
1,980
SQFT
580 Discovery Parkway
Superior, CO 80027
Downtown Superior Subdivision
New Listing - 2 weeks online
$699,000
Single Family Home For Sale
Active
4
BED
4
TOTAL BATHS
3,366
SQFT
3609 Gypsum Court
Superior, CO 80027
Superior Subdivision
About the Author

mikejgold