Blackhawk Country Club Real Estate Review
As Blackhawk Country Club real estate enters the height of the 2017 “selling season” I wanted to look back at how the community performed in 2016. Overall, last year was definitely a “Sellers’ Market”. Inventory of homes for sale remained low, while not as low as this year thusfar, and demand certainly outstripped supply. While the market was not as “heated” as a couple of years ago we did see a rise in the median home price of almost 5% over 2015. Number of homes sold was 120 versus 111 in 2015. Days on Market remained relatively stable. For Townhomes the market for 2016 tracked very closely with 2015 with the exception of the time it took for the seller to get into contract. In 2015 it took an average of 60 days to get the home into escrow while last year the time dropped dramatically to just 12 days.
We are reaching the end of the first quarter of 2017 How are things looking for Blackhawk Real Estate?
Eleven homes have “Closed Escrow”…Sixteen homes are “Pending Sale”…Sixteen homes are “Active and For Sale”. Median marketing time is at two weeks and the median sold price sits right at 1.55MM. To date the moderate increase in mortgage rates has yet to really put a dent into sales. In the near-term it seems that simple Supply & Demand will be the primary driver of the market. For most of 2015 and 2016 we saw between 30 and 40 homes for sale at any one time. Right now we are under 20 so unless we see a dramatic increase in inventory moderate price increases should continue.
Looking to Buy or Sell in Blackhawk Country Club? Doug has been a longtime resident originally dating back to 1984 and has deep insight into the local market as well as all of the benefits of being a resident.
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