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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 $425,000,000 over the past 17 years, being awarded one of the highest RE/MAX Club Award Levels the Prestigious Titan Club Award.
Wednesday, November 28, 2018
RE/MAX National Housing Report October 2018
Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado Selling Homes Above Full Price in 2018! Check us out: www.team-koz.com
I hope your holiday season is off to a great start and full of laughter and fun. Those of you wishing for a more balanced housing market might be slowly getting what you’re looking for according to the RE/MAX National Housing Report.
Here are three key takeaways from this month’s report:
1.)Year-Over-Year home sales dropped 4.6% in October - that’s the third month in a row. 2.)Inventory increased for the first time in a decade according to the housing report. 3.) Sales prices in October were one of the lowest increases in 2018.
All of this points to better news for buyers this holiday season as the “market moves towards equilibrium” according to Adam Contos, CEO of RE/MAX. If you have a moved planned for the holiday season or want to start preparing for a move in 2019, I’d be happy to meet with you to talk about what you can do now to help begin the process.
-The inventory of available homes for sale is 7,772
homes at October month end
-4,986 homes came onto the market
-3,665 homes went under contract
-4,131 homes closed
-Median sold price $398,900
-Average sold price $462,440
-Closed dollar volume $1.9 Billion.
Monthly Market Recap:
Active Inventory is 5,563
Sold Homes is 2,890
Average Price is $515,780
Median Price is $430,000
Average Days on Market is 38
Active Inventory is 2,209
Sold Homes is 1,242
Average Price is $338,153
Median Price is $295,000
Average Days on Market is 67
Year To Date Market
Sold Homes is 31,492
Average Sold Price is $515,520
Median Sold Price is $439,900
Average Days on Market is 30
Sold Homes is 13,084
Average Sold Price is $346,812
Median Sold Price is $295,000
Average Days on Market is 57
The October Metro Denver home market is more of a normal fall
season than the decline noted in the previous months even though October
traditionally starts the home market slowdown.The number of active listings has increased, the number of homes sold
has decreased, the home price appreciation is slowing down, buyer demand is changing,
and mortgage interest rates are increasing.As a Buyer or Seller, know what
is happening in the home market.
Advice to Sellers:
The Metro Denver Seller’s fall home market is here and Sellers
should know what is happening in the market.Active listings have increased.Buyer demand continues.Price
appreciation levels are dropping.Interest
rates are increasing.Homes are now
taking longer to sell.Buyers always
will determine what your home is worth.As
a Seller, it is time to focus on getting off the fence, knowing what is
happening in the home market, what are the home market statistics, and what is
your current home value.Be realistic in
your outlook and stay focused on the home sale.
The Metro Denver home market is seeing a decrease in
showings, fewer multiple offers, more homes coming back on the market. and
buyers who are cognizant of the home market changes.Manage your expectations, be flexible, be
civil, and accept the offer that works best for you the Seller.
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 market expert and can assist in the Professional plan to sell one’s home.
Advice to Buyers:
The fall Denver home market is here.As a Buyer, know that the homes available for
sale will continue to increase.As a
Buyer, you will probably see that the number of Buyers will continue to be a
high number.Sellers will continue to
focus on the sale of their home; but, they know that the market is changing and
as a Seller, they will have to consider the changes taking place in the Metro
Denver Home Market.As a Buyer, make the
offer that works for you and is the offer that you can complete to close the
transaction.As a Buyer, be aware that
the mortgage interest rates will increase several more times.As a Buyer, if you do not buy now, in the
future you will have less opportunity.As
a Buyer, be prepared to act quickly.
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.