Stonewall Place Condos

Maybe you have heard of them, maybe not.  Chances are if you live in or near south Boulder you know the area and have probably seen the development too.  Why? Because the Stonewall Place condos are located “on the way” to somewhere you were going and you have driven or biked by them.

There are about 55 units in this complex, and not a lot of turn over!  In an active year, just about 4-5 Stonewall Place condos will change ownership.  

The complex consists of  mostly 1st and 2nd floor units, but also a small handful of 3rd floor ones too.

Its a quiet street and mature, healthy looking trees are abundant.The Stonewall Place condos homeowners association appears to be well run and doing a nice job of carefully maintaining the landscaping, path and pond. Yes, it’s building style is reminiscent of the 80’s, but all in all it’s quite park-like and if you are fond of simplicity, then the Stonewall Place condos are worth checking out.

So, I guess your next question is “How much is a Stonewall Place condo going to cost me?”  I anticipated this!

Let’s use sold data from the last 24 months.  The market changed from a Buyers market in 2010 and 2011 to suddenly a Seller’s market around March 2012.  Buyer’s have remained hungry and inventory levels low, since then.  And while an appraiser will never use comps from 2 years ago (neither would I, FYI) I think that 24 months is OK when we need to get a big enough data set from which to observe the selling and buying trends.

The above chart is using data from up to 2 years ago so please keep in mind a couple of things:

• The Boulder real estate market has been trending upwards during this time.
• We have a seasonal market here. Both of which influence the final sale price of what might have otherwise been two identical units.

For those of you who noticed, there are two different blues in my sold data points.  The lighter blue are the 1 bedroom condos, while the darker blue units are 2 bedrooms.

There is a pretty clear trend line for price per square foot, but like most comparable properties, there will be differences we need to make adjustments for.  We should consider location and condition in this case.

All the condos are within a short distance from each other, yes.  However, within the Stonewall Place condominium complex, units may have different views and exposure to the sun etc.  Also, condition can change a lot in 25 years.  Did the owners upgrade finishes and how long ago?  Have they replaced window coverings, floor coverings, HVAC units?  Does the condo exhibit regular wear and tear or on closer inspection, would I be bold enough to say this home owner or their tenants trashed the place?  (It happens!)

 Thinking about selling?  Or perhaps you are a Buyer of mine and have it drummed into your head already that you should be thinking about selling as early as when you are buying!

Don’t we want to find out which sells better?   Since we already know that price per square foot is correlated, we now ask the question; Which size condo sells faster?  After all, when you have made up your mind to sell, the last thing you want is to sit on it for months.  Hint: Your tenants don’t want endless showings either!

In the case of the Stonewall Place condos, it’s a no-brainer!  Two bedroom condos have been selling twice as fast as one beds. This has traditionally been the conclusion among 1-2 bedroom condos scattered all over the Boulder-Denver area too.

And finally…

 When considering buyer or selling your Colorado real estate, you might want to consider the seasonality of our market.

Sure, its possible to sell something in the dead of winter.  I would not be the first agent to have written a contract on Xmas Eve and had it accepted… And crazy as it sounds, I’ve done the same on New Years Eve too!  (Note: I have more of a life now, so while you are welcome to ask me to work the funky days and hours, please don’t be offended if I say no.)

My advice, if you have the flexibility, is to list your property when it’s the most likely to sell quick and for the most money.

Having days with long sunshine hours and warmer temperatures will mean you get more showings… More showings will result in a higher likelihood of an acceptable offer landing in my inbox for you.

• Spring blossoms and green grass will automatically make the buyer feel warm fuzzies toward the house.
• A yard and roof that is covered in snow causes the buyer to wonder about what he can’t see.  (Should you buy what you can’t see?)
• A challenging walk up the un-shoveled garden path will have him reconsidering his decision to go look at houses at all on a Saturday morning.  (Could you blame him if he would prefer to be eating a stake of chocolate chip pancakes at Le Peep?)

So again, no surprise with this chart.  More listings are added to the MLS and sold between March and Sept than in the colder, darker months.

Ok, that’s a pretty good overview of Stonewall Place condos.  In the event you are wanting more info, I’m here to serve.  If you actually want to buy or sell Stonewall Place condos, we will look a little deeper than this. Pulling photos of sold comps to compare them is a must. Visiting the competition both in the complex and within a reasonable distance from it is normal for me and you would be invited along too.

I admit that I’ll be somewhat of an online stalker in my quest to get info about the complex, the unit and the Seller/Buyer we’re looking to work with.  Don’t judge me! Whether you like it or not, I come up with valuable information and my client benefits from that! They are paying me to add value, after all.  🙂