Team Koz - Experience is Priceless!
Michael Kozlowski #1 Ranked Individual RE/MAX Agent in the State of Colorado! #1 Ranked agent at RE/MAX Professionals 3 years in a row!
Michael Kozlowski has also been Ranked as high as #15 out of over 56,000 RE/MAX Agents in the entire United States.
Michael has been recognized for sales volume of over $370,000,000 over the past 16 years, being awarded one of the highest RE/MAX Club Award Levels the Prestigious Titan Club Award.
Michael Kozlowski #1 Agent at RE/MAX Professionals 3 Years in a Row!
Check us out: http://www.team-koz.com/
7 COUNTY METROPOLITAN DENVER MARKET UPDATE
By the numbers:
- The inventory of available homes for sale is 3,910 homes at December month end
- 2,359 homes came onto the market
- 2,757 homes went under contract
- 4,157 homes closed
- Median sold price $349,500
- Average sold price $394,803
- Closed dollar volume of $1.6 Billion.
Monthly Market Recap:
Active Inventory is 2,919
Sold Homes is 2,936
Average Price is $431,969
Median Price is $375,000
Average Days on Market is 47
Active Inventory is 991
Sold Homes is 1,221
Average Price is $305,431
Median Price is $255,000
Average Days on Market is 38
Year To Date Market Recap:
Sold Homes is 38,077
Average Sold Price is $440,941
Median Sold Price is $380,000
Average Days on Market is 34
Sold Homes is 15,310
Average Sold Price is $288,140
Median Sold Price is $240,000
Average Days on Market is 31
2016 was another record setting year with 53,387 homes sold and a closed dollar volume of $21.2 Billion!
Happy New Year and whether you are a Seller or a Buyer, be prepared as Metro Denver continues to be one of the top destination cities in the United States.
In closing the year and looking forward into 2017, the top concerns are tight inventory, home affordability, appraisal issues, and increasing interest rates .
Advice to Sellers:
Happy New Year - 2017 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 2016. 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 2016. 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 2017. 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.
Advice to Buyers:
Happy New Year - 2017 is here and as a Buyer, what can you expect from the Denver home market? 2017 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.