Kentley Hills is a popular neighborhood in Highlands Ranch, Colorado. It's central location and the quality craftsmanship of the homes creates much of its perceived value.
The Kentley Hills enclave was built by a variety of local and national builders in 1999-2001, including Oakwood Homes, Shea Homes, Sanford Homes, Richmond American.
Students in the Kentley Hills neighborhood attend Summit View Elementary, Mountain Ridge Middle School and Mountain Vista High School in the highly acclaimed Douglas County School District.
During the first ten months of 2008, 38 homes sold in Kentley Hills. At that time, the average home was marketed 59 days before an offer was accepted. The lowest priced home sold for $285,000 while the highest priced home sold for $530,000. The average price of the homes sold in that period was $368,383.
Fast-forward a year. A tough year, in fact. Many families in Kentley Hills are struggling with salary reductions or work furloughs, creating pressure on the median household income.
Yet Kentley Hills real estate values have remained strong. During January through October, 2009, 23 homes have sold, a 40% decrease in real estate sales. The lowest priced home in Kentley Hills was again $285,000. The highest priced home has dropped significantly, to $475,000. However, the average price has increased to $379,009.
When looking at the high end of the market, it is important to compare the sold properties. In the first ten months of 2008, the highest priced property in Kentley Hills sold for $530,000. It has six bedrooms, five bathrooms, a wine cellar and 3,107 square feet of living space.
In 2009, the highest priced property sold for $475,000. At first glance, that seems a significant reduction in price. However, this year's highest priced home for sale is a smaller residence: it has five bedroom and five bathrooms with 2,890 square feet.
One important indicator of the local housing market is the measurement of time on the market. The average Kentley Hills home was marketed 81 days before a contract was accepted, three weeks longer than a year ago.
The Highlands Ranch real estate market in 2009 requires home owners to carefully prepare their homes for sale. However, homeowners that update and stage their homes for sale are rewarded with strong prices.
If you are thinking of selling your Highlands Ranch home, now is a good time to do so. Congress just passed a stimulus package providing a $6,500 tax credit to home sellers that buy a replacement home. Your replacement home can be of higher or lower value, allowing families to select a new property that better meets its current needs. The $6,500 tax credit is for homes that are sold from December 1, 2009 to June 30, 2010.
Kathie Shandro is a Realtor in Highlands Ranch, Colorado. Her website, www.Denver-HomesForSale.com is a local resource for buyers and sellers. Kathie Shandro offers seminars for home buyers, home sellers and investors.
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