When broker Kim Harp put a 2-bedroom townhouse near the Bear Creek Trail on the market last week at $345,000, she expected to see action; and sure enough, it’s under contract as it heads for an open house this Saturday.

Agents say that the market made a slow start this year. But with March arriving, the Coldwell Banker agent said that’s quickly changing.

OUT IN FORCE

“Buyers are out in force,” said Harp, “There were more listings sold in the last seven days than had come on the market (in that same span).”

Some of the new life, particularly among first-time buyers, is based on price. The townhouse in Lakewood’s Silver Valley community is around $200,000 less than a median-priced Denver-area home last month, and $45,000 less than a median-priced condo/townhome.

Meanwhile, those buyers are seeing 30-year mortgage rates that have a “five’” in front of them — something they haven’t witnessed in three years.

“We’re seeing a lot of first-timers in the market early,” Harp said. “They want to stay out of competition, to avoid sellers getting multiple offers. First timers don’t want to be in that position now.”

Meanwhile, the new activity suggests that buyers have gotten a reality check on prices, which despite minor drops last year have remained stubbornly high.

“They’re realizing that in Colorado, prices aren’t going to come down,” Harp added. “We may stall, but we don’t crash.”

Silver Valley’s 289 townhouses — purchasers own the ground beneath as with single-family homes, and pay an HOA dues for pool and other amenities — were built in 1985. They’re bordered on the north by the Bear Valley Greenbelt, a half-mile wide in places, with a 7-mile-long bike trail that reaches from the Platte River Greenway, west to the foothills. A link trail runs through the middle of the complex.

Harp, who sells across the city, said buyers tend to want no projects awaiting when they purchase.

“They want it to look like the models, nothing they have to change.”

But that said, South Jeffco is a market where few if any new-build homes have appeared for 20 years.

PAINT GOES A LONG WAY

“It’s a different buyer; they’re expecting to do some updates,” Harp noted. “But sellers can do some quick projects to help get them in the door. Fresh paint is cheap and goes a long way.”

For this 2-bedroom, bath-and-a-half plan at 8761 W. Cornell Ave., Harp advised the sellers to repaint baseboards and stair risers, and to brighten up a dark-looking wood-burning fireplace. They had already updated the kitchen with new cabinets, granite backsplashes, and a farmhouse sink. The primary suite has a tech-oriented headboard with reading lights and data ports.

There’s also a single-car attached garage. “That makes a huge difference in desirability,” Harp said. With a contract pending, there’s another home, slightly larger, on the market at $365,000 a few doors away.

OPEN THIS SATURDAY:

WHERE:  8761 W. Cornell Avenue, Unit 9, Lakewood; from U.S. 285, head north on Wadsworth Blvd., 2 blocks to West Eastman Place, turn left (west) a half mile as Eastman becomes West Cornell Ave., watch for the entry on the right, and continue left around a block of homes.

SIZE: 2-bedroom/1-1/2-bath, 1,261 square feet, single-car garage.

PRICE: $345,000  

OPEN:  11 a.m. – 2 p.m.  Saturday, Feb. 28.

WEB:  kimharprealty.com     

AGENT:  Kim Harp, 720-351-7748