Tuesday, April 30, 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
I hope that you’re enjoying the first full month of spring! Despite the slowest start to spring home sales in five years, things are looking up according to the March RE/MAX National Housing Report. Here are a few highlights from last month’s report.
1) Sales were 8.6% lower than March 2018 – the lowest year-over-year in five years.
2) March sales rocketed up 29% over February.
3) The number of homes on the market grew for the sixth month in a row.
Want more details? Send me a message and I will forward the latest!
So, what does this all mean for you? It’s a great time to be in the market. There are more homes for sale on the market, prices have only increased slightly year over year, and interest rates are falling. If you’re thinking about making a move this spring or summer, let’s get started. I’d be happy to evaluate your home and talk about your wants and needs for your next home.
If you’re not in the market but have questions about our local market, please don’t hesitate to call, or reply to this email.
Tuesday, April 9, 2019
7 COUNTY METROPOLITAN DENVER MARKET UPDATE
- 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:
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
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:
Sold Homes is 7,091
Average Sold Price is $506,428
Median Sold Price is $432,001
Average Days on Market is 46
Sold Homes is 3,056
Average Sold Price is $353,286
Median Sold Price is $295,550
Average Days on Market is 60
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.