Saturday, July 13, 2019

Denver Real Estate Market Update July 2019

7 COUNTY METROPOLITAN DENVER MARKET UPDATE
JULY, 2019

By the numbers, the inventory of available homes for sale is 8,426 homes at June month end

- 6,909 homes came onto the market

- 5,205 homes went under contract

- 5,242 homes closed

- Median sold price $425,000

- Average sold price $495,318

- Closed dollar volume $2.6 Billion.

Monthly Market Recap:
Single Family:

Active Month End Inventory is 5,949

Sold Homes is 3,815

Average Price is $543,819

Median Price is $461,000

Average Days on Market is 25

Condo:

Active Month End Inventory is 2,477

Sold Homes is 1,427

Average Price is $365,651

Median Price is $308,000

Average Days on Market is 47

Year To Date Market Recap:
Single Family:

Sold Homes is 18,393

Average Sold Price is $529,205

Median Sold Price is $449,900

Average Days on Market is 35

Condo:

Sold Homes is 7,655

Average Sold Price is $361,811

Median Sold Price is $300,000

Average Days on Market is 57

Market Facts:

The Metro Denver prime season continues and we are seeing many changes that are different
than in the prior years. New active listings are increasing. For Sellers, you will see an increase
in offers, negotiations, and the possibility of price adjustments. With interest rates staying low
and many buyers in the market, it continues to be a perfect time to buy. Metro Denver will
continue to see a change in the home market that overall could be beneficial to everyone.

Advice to Sellers:

The Metro Denver home market is now in the prime season. 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 staging the home. Buyer
demand will continue as we see more Buyers and investors in the market. Many Buyers will be
looking for a new home prior to the start of the school season. Homes are now taking a little
longer to sell and price appreciation is starting to level off. Buyers always will determine what
your home is worth. As a Seller, if your home sits longer than a month, it is time to revisit
pricing of competition in your neighborhood.

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, be realistic about your budget, start saving as soon as possible, create your plan,
grow your credit score, lock in your rate now, keep your eye on the home market, and consider
your family wants and needs.. First and foremost, focus on your lifestyle and home
requirements. As a Buyer, 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 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, July 6, 2019

RE/MAX National Housing Report June 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 few days of summer. I wanted to send you this quick update to let you know what’s going on with the housing market. I’ve outlined three key points from the RE/MAX National Housing Report that I think you’ll find helpful.

1) The number of homes on the market hit a 34-month high in May.
2) Homes are selling quick! The average time for May was just 47 days.
3) May sales were up year-over-year for the first time in 9 months.

Call, text or email me for the full report!

It’s an active market, but with more homes on the market, it means plenty of opportunity for buyers. And when you top it off with lower mortgage rates, it’s a good time to think about buying or selling. I’d be happy to help you with all of your real estate needs.

Feel free to give me a call, shoot me a text, or reply to this email with any questions.