Friday, February 16, 2018

Denver Real Estate Market Update February 2018

Denver Real Estate Market Update February 2018



Thursday, February 15, 2018

Denver Real Estate Market Update February 2018

Denver Real Estate Market Update February 2018!
Michael Kozlowski #1 Ranked Individual RE/MAX Agent in the State of Colorado! Already Selling Homes in 2018 Above Full Price!
7 COUNTY METROPOLITAN DENVER MARKET UPDATE
FEBRUARY, 2018
By the numbers:
- The inventory of available homes for sale is 3,426 homes at January month end
- 3,887 homes came onto the market
- 2,553 homes went under contract
- 2,717 homes closed
- Median sold price $380,000
- Average sold price $442,169
- Closed dollar volume of $1.2 Billion.
Monthly Market Recap:
Single Family:
Active Inventory is 2,455
Sold Homes is 1,873
Average Price is $485,069
Median Price is $415,000
Average Days on Market is 43
Condo:
Active Inventory is 971
Sold Homes is 844
Average Price is $346,964
Median Price is $282,746
Average Days on Market is 71
Year To Date Market Recap:
Single Family:
Sold Homes is 1,873
Average Sold Price is $485,069
Median Sold Price is $415,000
Average Days on Market is 43
Condo:
Sold Homes is 844
Average Sold Price is $346,964
Median Sold Price is $282,746
Average Days on Market is 71
Market Facts:
January recorded the start of the Denver 2018 home market with consumer focus on home ownership. Buyer demand remains strong and the inventory of active listings remains low. Buyers and Sellers need to be aware of all facts impacting the Denver home market. The prime home selling and buying season is around the corner and as a Seller or a Buyer, be prepared as the prime season will start soon. We continue to see price appreciation and market changes.
Advice to Sellers:
Recognizing that “Housing Forecasts” predict a healthy real estate market for 2018, Seller’s need to be aware that the housing market is forecasted to be a Seller’s market due to strong Buyer demand, relatively low inventory of homes for sale, and reasonable price appreciation. With this being said, here are some top tips for 2018 Seller’s. List your home during the prime home selling and home buying season which is just around the corner. Strong Buyer demand will benefit Sellers. Second, price your home to the market. Beware of pricing for homes sold in or near your neighborhood or are a similar home to yours. Third, consider what you as a Seller needs to do to your home or if you may need to offer incentives to make the home more marketable.
Denver will see many Buyers from all over the world and consumers will continue to focus on home ownership.
Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements and a conversation on how the market functions. As such, the homeowner looking to sell a home needs a professional who is a local expert, market knowledgeable, and can assist in the Professional plan to sell one’s home. Now is the time to reach out to a Professional.
Advice to Buyers:
The 2018 housing market is forecasted to be primarily a Seller’s market mainly due to strong Buyer demand and low inventory of homes for sale. The prime home selling and buying season is just around the corner and expect another market frenzy year. As a Buyer, be the early bird and get into the home market now, do your homework, and be approved for the best mortgage option for you, consider buying a new home that meets your expectations, and look at the entire home market. Be aware of moderate home price appreciation and potential increase in mortgage interest rates. Create your home buying plan and stick to it.
Know what you want in a home, where you want to live, and what price range you can afford. Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home. Be prepared, manage your expectations, and be open to looking at the entire Denver market. Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.




Friday, January 12, 2018

Denver Real Estate Market Update January 2018

Denver Real Estate Market Update January 2018

Michael Kozlowski #1 Ranked Individual RE/MAX Agent in the State of Colorado! Already Selling Homes in 2018 Above Full Price!

Check us out: http://www.team-koz.comBy the numbers:

–        The inventory of available homes for sale is 3,443 homes at December month end

–        2,197 homes came onto the market

–        2,486 homes went under contract

–        3,890 homes closed

–        Median sold price $385,000

–        Average sold price $437,224

–        Closed dollar volume of $1.7 Billion.



Monthly Market Recap:

Single Family:

Active Inventory is 2,448

Sold Homes is 2,745

Average Price is $477,624

Median Price is $412,000

Average Days on Market is 44

Condo:

Active Inventory is 995

Sold Homes is 1,145

Average Price is $340,372

Median Price is $280,000

Average Days on Market is 59



Year To Date Market Recap:

Single Family:

Sold Homes is 38,543

Average Sold Price is $475,181

Median Sold Price is $408,000

Average Days on Market is 33

Condo:

Sold Homes is 15,907

Average Sold Price is $316,348

Median Sold Price is $266,500

Average Days on Market is 42

Market Facts:

2017 was another record setting year with 54,450 homes sold and a closed dollar volume of $23.3 Billion.  Happy New Year and whether you are a Seller or a Buyer, be prepared as Metro Denver continues to be one of the destination cities in the United States.  In closing the year and looking forward into 2018, the top concerns are tight inventory, home affordability, ownership issues, and increasing interest rates.

Advice to Sellers:

Happy New Year – 2018 is here and as a Seller, what can you expect from the Denver home market?  Overall the Denver home market will continue to move forward; but at a slower pace than 2017.  Buyer demand will continue to be strong as Denver continues to be a destination city.  Price appreciation is not expected to be as great as in 2017.  New household formations will continue to increase and multi generations will look to buy.  Denver will see more Buyers from all over the world.  Denver will continue to be in the top 10 home markets in 2018.  Consumers will continue to focus on home ownership.  New home builders will focus on increasing the availability of their new home models and try to reduce the time needed to build a new home.

Buyers today continue to be savvy and more educated when it comes to home markets.  Sellers need to know where they want to live.  Home closing time frames are now increasing by at least a week.  As a Seller, do not forget the home selling basics, make your plan and stick to it.

Seller preparation includes a good pricing comparison analysis, instructions on staging, what are the top improvements, and a conversation on how the market functions.  As such, the homeowner looking to sell a home needs a professional who is a local expert, market knowledgeable, and can assist in the Professional plan to sell one’s home.  Now is the time to reach out to a Professional.

Advice to Buyers:

Happy New Year – 2018 is here and as a Buyer, what can you expect from the Denver home market?  2018 will bring increased home mortgage interest rates, continuous changes to the closing process, home price appreciation, strong Buyer demand as Denver continues to be a destination city, an increase in household formations, more and more Buyer competition will come from all over the world, and market conditions that may challenge all.  The definition of what makes a home is dramatically evolving from tiny home to multi generational.  Create your home buying plan and stick to it.

Know what you want in a home, where you want to live, and what price range you can afford.  Complete the pre-qualification process so you know the price range that you qualify for when you are purchasing a home.  Be prepared, manage your expectations, and be open to looking at the entire Denver market.  Reach out to a Professional today about your best options and opportunities to participate and succeed in the purchase of your “Dream” home.