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2013 Year in Review: Kincaid Forest

Kincaid Forest homes

They say hindsight is 20-20, well that was never truer for Kincaid Forest buyers in 2013. If they had known prices would soar and selection would dwindle, a few more folks may have decided to move in 2012. Let’s take a look at last year’s incredible market here…

A typical single family home in Kincaid has 4 bedrooms, 3.5 baths, and 3085 square feet on a quarter acre. The total number sold in 2013 was down significantly, seven compared to seventeen in 2012, however prices jumped dramatically. Last year it took an average of 36 days on the market to earn a selling price of $557,629. That’s a mammoth increase of over 17% compared to 2012’s average of $475,438. In real dollars, sellers here were able to take away $82,000 more than the previous year!

Townhomes in Kindcaid Forest were built in three waves starting in 1993 and finishing in 2010, similar to Tavistock Farms. Due to the size and style, we are going to separate the pre-2002 homes and review those first. The older townhomes have 3 bedrooms, 2 full and 2 half baths, and average 1358 square feet. Last year, 12 of those homes sold for an average of $302,825, up 7.5% from 2012’s average of $279,833 (6 sales). The average days on market dropped to 11, and most sold in 8 days or less.

The townhomes built after 2002 also offer 3 bedrooms, 2 full and 2 half baths, but do so with 2023 square feet. Seven of these larger townhomes sold in 2013 for an average of $377,071. That’s 6% higher than the 3 sales in 2012 which averaged $355,667. The extra money did take a little longer to get as home averaged 30 days on the market.

Wondering what this means for you? Sellers were able to take advantage of a hot spring market last year and see fantastic gains. It’s early, but we would expect prices to rise modestly in 2014 due to much higher interest rates than last spring. Buyers should pay close attention to listings as they come on the market, and be prepared to make strong offers.

Live in Kincaid Forest  (or anywhere in LoCo) and wonder what your home is worth? Click here and we will shoot you an email with an up to date home value report. Thinking about buying? We’ve got you covered there too, sign up here to get email updates on all the listings in your target area.

Cheers,
Mike

Have a real estate question or need any information on all things LoCo, just ask!

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About our blog

Michael and Heather Elias are full time real estate professionals and licensed REALTORS at Century 21 Redwood Realty. They sincerely hope you enjoy reading this blog, and would love the opportunity to work with you.



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The data relating to real estate for sale on this web site comes from MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than LoCoMusings are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified. Data last updated 2015-06-30T19:03:30.703.

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