ARAPAHOE COUNTY
Arapahoe County fared terribly the past year. Arapahoe replaced Adams County with the least amount of sales for the year.
Total sales numbers dropped by 34 from 79 in 2006 to only 46 in 2007! That is over 40%! All of this downturn was in the 2-4 unit market.
Total Sales dollars decreased from over 23M to less than 17M.
The Average Days on the Market rose from 115 to 120 days.
The Average Price per Square Foot dropped for the third year in a row.
At first glance, there is what appeared to be a rise of the average sales price of over $70,000 per sale. Hold the applause! Upon further review the figures revealed an interesting anomaly.
It seems that the higher priced 8+ unit property sales picked up through out the year and the smaller 2-4 units languished. A higher percentage of larger/higher priced deal skewed the numbers.
Sales of the 8-19 unit buildings increased—11 of the 49 sales were in the 8-19 unit size building. This is double from 2006. Of all the 238 individual apartment units sold, 146 units came from the 11 sales of the 8-19 unit buildings. 2007 was a good year for this size building.
The 2006 2-4 unit properties sales were 74 of the 78 total sales. 2007 had only 33 total sales of the 2-4 units! Over a 50% drop!
This was an amazing collapse of the 2-4 unit sales. The 41 less sales of the 2-4 unit buildings tells the tale of what happened overall in Arapahoe.
There were only 4 four unit properties sold in all of 2007 vs. 18 sales in 2006. All four sales were all prior to May 15th. From Aug 1st to the end of the year only twelve 2-3 unit properties sold! Terrible!
ARAPAHOE COUNTY 2007 2-4 SALES
- RE/MAX 100 INC.
- Independently Owned & Operated
- 710 Kipling St., Suite 110
- Lakewood, CO 80215
- 303-232-4444 office 1-800-537-0002
- 303-202-2221 direct 303-232-6919 fax