2013 Year in Review: River Creek

River Creek is one of my favorite golf courses, and we love the wide array of architecture. I’ve come as close to getting a hole-in-one as you can without the ball going in the hole on #14, and competed in a few MAPGA tournaments there (my personal best is 73). Let’s take a look at how the 2013 real estate market fared here…

There is nothing average about River Creek, including home prices. Depending on which section of the community your single family home was built and how many square feet it has, values range from $650,000 to $1.7 million. The dividing line falls at approximately 4,600 square feet, with homes under that topping out at $850,000. Last year twenty-two single family homes sold at an average price of $903,727 (including six over $1 million), slightly higher than 2012 when the thirty-two homes sold averaged $900,584. Interestingly, homes over the million dollar threshold sold for almost $200,000 less in 2013 compared to the previous year.

Townhomes in River Creek offer just as much variety, with prices from $415,000 to $1.1 million depending on location and size. In 2013, forty-five sold for an average of $628,124, including four over $1 million. 2012 saw twenty-nine townhomes sell for an average of $607,272, with only one above $1 million. That’s the opposite of the top end for the single family home segment and partially accounts for the price increase (the rest is due to more homes selling over $600,000 last year).

What does this mean for you? Location is everything within River Creek. With such a wide range of styles and sizes, a street by street approach is almost necessary to accurately determine values. We do expect home prices to appreciate moderately this spring, and with the weather we are having this winter don’t be surprised by an explosion of activity in the next few weeks.

Want to know what your River Creek home is worth? Ask for our home value report and we’ll deliver it to your inbox within an hour. Thinking about buying? We’ve got you covered there too, just request our email update for all the listings in your target area.

Cheers,
Mike

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