The Stapleton neighborhood real estate market finished out March strong. The average price per square foot was at $314.51, and the median came in at $308.99. Last year the average price per square foot was $305.39, so Stapleton saw a nice little increase on average, but the median was essentially flat at $308.94 last year. Below are stats gathered from REcolorado.com (local MLS).
A bright spot for Stapleton was that there were three luxury home sales in Stapleton over $1 million with the highest sale coming in just shy of $1.3 million. The number of home sales were down compared to last year with 51 home sales in March 2019 and 46 home sales this year. This is to be expected given the COVID-19 climate. The market in Stapleton was still resilient with the average days on market dipping to 25 days compared to last years 37 days average days on market. Below is a graph of the March 2019 stats from REcolorado.com.
A couple of other data points that we think are important to take note of are the 'Close' to 'Original List Price' ratio, which was 99.51 percent last month. This means sellers are getting the price they want and buyers are still aggressive on price. This can obviously change quickly if the coronavirus continues on its destructive path.
Below are the latest stats for single-family homes in Stapleton for March 2020. The average price per square foot came in at $319.82 versus last years average was $323.01 per square foot. The median price per square foot was $313.55 in March versus last year was $316.59 per square foot. The market was off a bit and everyone knows the elephant in the room probably had something to do with it.
Below are stats from REcolorado for March 2019. There are some bright spots in the March data compared to last year. The average days on market was down to 22 compared to 38 days on market in March 2019. The sale price to original list price ratio was a bit stronger than the previous year as well coming in at 99.14 percent.
There was a dip in number of single-family home sales and the average price per square foot dropped, but a modest decline at the moment. Will this be an indicator for the summer selling season in Stapleton? Pretty obvious that no one knows which direction the market will go, but one can only speculate. My guess is that things will level off if we get this virus under control. Otherwise, it is going to be a bumpy roady
Wishing everyone all the best in this challenging time.
