Tuesday, April 9, 2019

Denver Real Estate Market Update April 2019







7 COUNTY METROPOLITAN DENVER MARKET UPDATE

APRIL, 2019





-        The inventory of available homes for sale is 5,616 homes at March month end

-        5,739 homes came onto the market

-        4,657 homes went under contract

-        4,084 homes closed

-        Median sold price $410,000

-        Average sold price $469,177

-        Closed dollar volume $1.916 Billion. 



Monthly Market Recap:



Single Family:                                                                   

Active Month End Inventory is 3,781                                 

Sold Homes is 2,848                                                          

Average Price is $517,786                                      

Median Price is $445,000                                        

Average Days on Market is 40                                                       



Condo:

Active Month End Inventory is 1,835

Sold Homes is 1,236 

Average Price is $357,174

Median Price is $299,975

Average Days on Market is 64



Year To Date Market Recap:



Single Family:                                                                   

Sold Homes is 7,091                                               

Average Sold Price is $506,428                                         

Median Sold Price is $432,001                                

Average Days on Market is 46                                



Condo:

Sold Homes is 3,056

Average Sold Price is $353,286

Median Sold Price is $295,550

Average Days on Market is 60



Market Facts:



March is out like a lion, Spring is here, the Metro Denver Home Market is improving as Buyers are out in full force. Despite the bomb cyclone and cold weather, the market saw spring picking up.  Sellers need to be priced right from the very beginning and make sure the home is move in ready.  As a Buyer or Seller, know what is happening in the home market.  Metro Denver continues to be a top home market.



Advice to Sellers:



The Metro Denver home market is moving forward with Spring.  Think about a Seller Counseling Session.  This will demonstrate your home value, set expectations, reduce risk, know what can and cannot do, outline the process, inform you of what Buyers are doing, and provide resources.  Learn about the value of renovations and or upgrades, decluttering, and preparing the home. Buyer demand will continue as we see more Buyers in the market. Homes are now taking a little longer to sell and price appreciation is minimal.  Buyers always will determine what your home is worth.  As a Seller, focus on 2019 and the changes in the home market.



As a Seller, your home needs to be priced right from the very beginning.  Manage your expectations, make sure your home is move-in ready, be flexible, and accept the offer that works best for you the Seller.  Note that Buyers are bringing their A game to the Denver Home Market.



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:



As a Buyer, you will probably see that the home market is moving forward with competing Buyers.    Sellers will continue to focus on the sale of their home.  First and foremost, focus on your lifestyle and must haves.  As a Buyer, be the early bird and get into the home market now.  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 are not increasing now in 2019.  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.






Saturday, March 30, 2019

RE/MAX National Housing Report February 2019

The Market is Changing Make Sure you are Prepared!
Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado! Check us out
www.team-koz.com

Spring is finally here! I don’t know about you, but I love the change of the season. The season’s not the only thing changing according to the RE/MAX National Housing Report. Here are three things to take away from last month’s report.

1. Home sales were down for the seventh consecutive month. They were down 4.2% from February 2018.

2. Inventory grew for the fifth month in a row. It was up 5.8% year over year.
The median sales price also grew by 5.5% to $240,000.

3. All signs are pointing to the market slowly balancing as it transitions from a seller’s market to a buyer’s market. However, with home sale prices on the rise, pricing is still in the seller's favor.

It’s going to be a busy spring! If you’re thinking about buying or selling, let’s get started. Give me a call, send me a text, or reply to this email to set up a meeting to talk about your situation.

Thank you for trusting me as your local real estate expert!



Saturday, March 16, 2019

Denver Real Estate Market Update March 2019







7 COUNTY METROPOLITAN DENVER MARKET UPDATE

MARCH, 2019



By the numbers:

-        The inventory of available homes for sale is 5,375 homes at February month end

-        4,701 homes came onto the market

-        3,901 homes went under contract

-        3,175 homes closed

-        Median sold price $399,000

-        Average sold price $456,802

-        Closed dollar volume $1.45 Billion. 



Monthly Market Recap:



Single Family:                                                                   

Active Month End Inventory is 3,603                                 

Sold Homes is 2,204                                                                     

Average Price is $506,388                                      

Median Price is $427,275                                        

Average Days on Market is 48                                                       



Condo:

Active Month End Inventory is 1,772

Sold Homes is 971

Average Price is $344,251

Median Price is $295,000

Average Days on Market is 50



Year To Date Market Recap:



Single Family:                                                                   

Sold Homes is 4,145                                               

Average Sold Price is $498,807                                          

Median Sold Price is $425,000                                

Average Days on Market is 49                                



Condo:

Sold Homes is 1,772

Average Sold Price is $350,201

Median Sold Price is $292,500

Average Days on Market is 57



Source:  REcolorado.com – March 5, 2019

The above representation for Single Family and Condo includes real estate activity in the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.



Market Facts:



The February Metro Denver home market is definitely seeing a seasonal market pick up with homes on the market, homes closing, moderate price appreciation, and many millennial buyers.  Metro Denver is still a highly competitive housing market.  Strong job market and gradual decline in mortgage interest rates will continue to usher housing demand.  As a Buyer or Seller, know what is happening in the home market and the local, state, and national economy.



Advice to Sellers:



What should you do if you are ready to sell your home?  Think about a Seller Counseling Session.  This will demonstrate your home value, set expectations, reduce risk, know what can and cannot do, outline the process, inform you of what Buyers are doing, and provide resources.  Learn about the value of renovations and or upgrades.  Buyer demand will continue as we see more Buyers in the market.  Buyers are now all generation from young age to older age.  Homes are now taking a little longer to sell and price appreciation is minimal.  Buyers always will determine what your home is worth.  As a Seller, focus on 2019 and the changes in the home market.



With continued Metro Denver population growth and consumer demand for home ownership, market frenzy is here, and can be expected to continue for several months.



Manage your expectations, be flexible, 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 local expert, 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:



As a Buyer, you will probably see that the number of competing Buyers will continue.  Sellers will continue to focus on the sale of their home.  First and foremost, focus on your lifestyle and must haves.  As a Buyer, be the early bird and get into the home market now. As a Buyer, be aware that the mortgage interest rates are not increasing now in 2019.   



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.




Thursday, February 14, 2019

Denver Real Estate Market Update February 2019

Denver Real Estate Market Update February 2019







7 COUNTY METROPOLITAN DENVER MARKET UPDATE

FEBRUARY, 2019



By the numbers:



-        The inventory of available homes for sale is 5,262 homes at January month end

-        4,502 homes came onto the market

-        3,545 homes went under contract

-        2,708 homes closed

-        Median sold price $391,426

-        Average sold price $451,783

-        Closed dollar volume $1.223 Billion. 



Monthly Market Recap:



Single Family:                                                                   

Active Month End Inventory is 3,544                                             

Sold Homes is 1,922                                                                      

Average Price is $490,434                                      

Median Price is $421,750                                        

Average Days on Market is 50                                                       



Condo:

Active Month End Inventory is 1,718

Sold Homes is 786

Average Price is $357,271

Median Price is $290,000

Average Days on Market is 70



Year To Date Market Recap:



Single Family:                                                                   

Sold Homes is 1,922                                               

Average Sold Price is $490,434                                         

Median Sold Price is $421,750                                

Average Days on Market is 50                                



Condo:

Sold Homes is 786

Average Sold Price is $357,271

Median Sold Price is $290,000

Average Days on Market is 70

Market Facts:



There is always a transition in the January Metro Denver home market as Sellers are bringing homes onto the market and Buyers are ready to buy.  2019 overall will be a Seller’s and/or Buyer’s market.  Even though the changes noted in 2018 will continue in 2019, the Metro Denver home market will be beneficial to all.  As a Buyer or Seller, know what is happening in the home market and the local, state, and national economy.



Advice to Sellers:



The Metro Denver 2019 Seller’s home market is here and Sellers should know what will be happening in the market.  As a Seller, list your home as the prime home selling season is just around the corner and more important, price your home for the market.  Note that comments from several national data base companies state that price appreciation will continue to increase slowly, mortgage interest rate increases will impact Buyers, the inventory of active listings will remain low, current city, state, and national activities will impact our home market, and the overall 2019 Metro Denver Home Market will change from what has taken place in the prior years.  Buyer demand will continue.  Homes are now taking longer to sell.  Buyers always will determine what your home is worth.  As a Seller, focus on 2019 and the changes in the home market.



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:



As a Buyer, you will probably see that the number of competing Buyers will continue.  Sellers will continue to focus on the sale of their home.  Sellers 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, be the early bird and get into the home market now.  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 again in 2019.  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.






Thursday, January 10, 2019

Denver Real Estate Market Update January 2019







7 COUNTY METROPOLITAN DENVER MARKET UPDATE

JANUARY, 2019



By the numbers:



-        The inventory of available homes for sale is 5,034 homes at December month end

-        2,168 homes came onto the market

-        2,518 homes went under contract

-        3,364 homes closed

-        Median sold price $395,000

-        Average sold price $451,792

-        Closed dollar volume $1.520 Billion. 



Monthly Market Recap:



Single Family:                                                                   

Active Month End Inventory is 3,454                                 

Sold Homes is 2,418                                                                      

Average Price is $494,153                                      

Median Price is $425,000                                        

Average Days on Market is 48                                                       



Condo:

Active Month End Inventory is 1,580          

Sold Homes is 946

Average Price is $343,517

Median Price is $294,650

Average Days on Market is 71



Year To Date Market Recap:



Single Family:                                                                   

Sold Homes is 36,706                                             

Average Sold Price is $512,638                                         

Median Sold Price is $437,000                                

Average Days on Market is 32                                



Condo:

Sold Homes is 15,247

Average Sold Price is $347,036

Median Sold Price is $295,000

Average Days on Market is 58

Market Facts:



The Metro Denver home market changed in 2018 and is moving towards a Buyer’s market due to increased inventory, 2019 overall will continue to be a Seller’s market with many Buyers and price appreciation.  The last few months have seen the number of active listings decrease, the number of homes sold decrease, home price appreciation slowing down, buyer and seller demand changing, and mortgage interest rates increasing.  As a Buyer or Seller, know what is happening in the home market and the local, state, and national economy.



Advice to Sellers:



The Metro Denver 2018 Seller’s home market is done and Sellers should know what will be happening in the market in 2019.  The last several months of 2018 have shown both Seller’s and Buyer’s what will be a different year for the Denver Metro Home Market.  Comments from several national data base companies state that price appreciation will continue to increase slowly, mortgage interest rate increases will impact Buyers, the inventory of active listings will remain lower than normal, and the overall 2019 Metro Denver Home Market will change from what has taken place in the prior years.  Buyer demand will continue but homes are now taking longer to sell and Buyers always will determine what your home is worth.  As a Seller, focus on 2019 and the changes in the home market.



Manage your expectations, be flexible, 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 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:



As a Buyer, know that the homes available for sale will continue to be low.  As a Buyer, you will probably see that the number of Buyers will continue.  Sellers will continue to focus on the sale of their home; but, now in a different time frame.  Sellers 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 times this year in 2019.  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.