How is the Cougar Ridge Real Estate Market?
I recently took some time to take a look at the detached home sales in Cougar Ridge in comparison to 2014. Since 1 June 2015 we have seen 2 homes over 1 million dollars sell in Cougar Ridge and another 19 homes sell during that period too.
Home sale prices varied from $1,700,000 to $488,000. If you eliminate the two home sales over $1,000,000 which are not necessarily reflective of the average Cougar Ridge home, the days on market for the other 19 sales during this period was 30 days. This might be a slightly skewed number because when Realtors take down a listing and do a price drop, new photos and get it re-listed with a new MLS number it re-starts the counter for downs on market. For example, the home across the street from me was listed for around 6 months. When it finally sold the listing had only been up for 90 days as the listing was taken down a couple times during this period. Official the days on market for the homes sold since 1 June 2015 is 30 days when theCalgaryaverage is 40+.
There were numerous homes that sold within 10 days of being listed. This is great news and shows that well presented, well priced, desirable homes in Cougar Ridge are still in demand.
Having a look at the sales over that time period it seems that people are gravitating to the homes that have been renovated or updated. Most homes in Cougar Ridge are of the 2004-2006 era and if you haven't updated your kitchens and bathrooms since then you may see you home sit on the market slight longer; unless you are priced slightly below market price.
Looking at the homes that sold over that time period, if you wanted a quick sale then an updated kitchen is key. Only one of the homes that sold in less than 2 weeks did not have an updated kitchen.
The detached homes in Cougar Ridge that are found east of 85st with detached garages are also highly sought after right now. I suspect this has a lot to do with pricing as they are some of the cheapest detached homes in the West Hills. Both homes listed since 1 June with detached garages sold in under 2 weeks with one selling on the first day.
The other thing I like to look at is sale price vs list price. In the last 45 days we have seen $14,199,500 worth of homes sell in Cougar Ridge. Excluding the two homes over 1 million here are the numbers:
List prices total: 11,509,500 Saleprices total: 11,270,000
So the average sale price vs list price is 97.9% Exactly what theCalgaryaverage is right now. This means that if you list your home in Cougar Ridge you will like sell it in a month and for around 98% of asking. We are entering the summer season though so it is likely that days on market will increase. We have seen a significant slow down at the start of July from Stampede so far with an increase in showing requests that started this week.
If you are interested in buying or selling in Cougar Ridge I'd love to help! Please do not hesitate to contact me if you have any questions.
Have a great day!