Blue Lake MICRO Market Report
Last updated June 1, 2020
This report is intended to provide a quick glance at home sales in Blue Lake for the last 15 years, back to 2006, before what most consider the height of the market before the economic downturn starting in 2008. I am Blue Lake resident living on Beaver Lane and as a homeowner, I am invested in our neighborhood's real estate sales activity and hope to be your resource for real estate activity in Blue Lake.
Please get in touch with me if you have any questions, or are thinking of buying or selling in Blue Lake! If you're undecided, I am here to advise.
- Sara, 970.379.2148
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NUMBER OF HOMES SOLD
Here we see the noticeable drop in sales activity after the downturn of 2008 and a resurgence of activity in 2012 and again in 2016. Only 11 homes in Blue Lake sold in 2018, due to low inventory available. So far this year, 10 homes have sold and 4 more are for sale.
HIGHEST, AVERAGE & LOWEST
SOLD PRICE
Here we see the legendary high prices of 2006, 2007 and 2008, followed by a drop that reached it's lowest point in 2011. This drop in prices was followed by a resurgence of activity in 2012. Average sale prices have crept back up to about what they were in 2007 and 2008, which is great news for sellers.
HIGHEST, Average & LOWEST
SOLD Price per Square Foot
AVERAGE DAYS ON MARKET
2007 and 2008 yielded the highest sold price per square foot, followed by the drop until about 2012, when prices started to go up again. Since 2011, the average price per square foot has crept back up to pre-downturn levels and since 2018, has finally made it passed $300/sq. ft..
Since 2012, days on market in Blue Lake have hovered around 100 days. In 2018 and so far this year, there has been an slight uptick in average days on market, likely due to low inventory.
SELLER’S CLIMATE
If you are thinking about selling, now may be the time. Low inventory in the mid-Valley, plus inflated prices on current inventory means that homes priced to sell are in high demand. Currently, there are very few homes on the market in Blue Lake, offering Blue Lake sellers a significant advantage right now.
