Friday, November 21, 2014
Wednesday, November 19, 2014
Denver Real Estate Market Update November 2014
7 COUNTY METROPOLITAN DENVER MARKET UPDATE
NOVEMBER, 2014
By the numbers, the inventory of available homes for sale is:
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6,066 homes at October month end
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4,406 homes came onto the market
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4,411 homes closed
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Median sold price is $275,000
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Average sold price is $324,030
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Closed dollar volume of $1.43 Billion.
Monthly Market Recap:
Single Family:
Active Inventory is 4,802
Sold Homes is 3,104
Median Price is $307,500
Average Price is $362,333
Average Days on Market is 36
Condo:
Active Inventory is 1,264
Sold Homes is 1,307
Median Price is $185,000
Average Price is $233,063
Average Days on Market is 30
Year To Date Market
Recap:
Single Family:
Sold Homes is 31,774
Average Sold Price is $361,801
Condo:
Sold Homes is 12,141
Average Sold Price is $221,610
Market Facts:
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Consumer optimism remains high (82%) in the
housing market and gives every indication that while the market is seasonally
slowing, the year will end strong.
-
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Consumer confidence increased in October to 94.5
up from 89.0 in September.
While the inventory of homes available for sale remains low,
lifestyle choices continue to be the number one priority of home buyers.
Mortgage interest rates fluctuated in October and ended the
month with a 30 year conventional rate under 4% and a 15 year conventional rate
around 3.0%.
Advice to Sellers:
The holiday season is here.
As a Seller, there are fewer homes on the market as competition to your
home. Buyers remain in the market; but,
the number of homes sold or closed slow down this time of the year. Keep in mind that Buyers do not stop looking
when they are in the market.
What is the one new thing that Buyers look for in a home,
well it is smart home technology.
With a month plus left in 2014, what should a Seller do
during this holiday season? Let’s start
by learning market values in your neighborhood followed by evaluating the
physical condition of your home and those items that will leave a lasting
impression with Buyers. Next, learn the
competitive value of your home and become aware of the pricing movements in
comparable homes this time of the year.
Create your home selling plan and live by it.
If your home is on the market or will be soon, how do you
satisfy a buyer’s need resulting in the successful sale of your home? Let’s not forget that buyers have done their
homework, know exactly what they want in their new home, and will only compete
for the homes of their dreams. As such,
the homeowner looking to sell one’s home needs a professional who is a local
expert 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:
The holiday season is here and as a Buyer, there are fewer
homes available for sale. Buyers should
not stop looking during this time period.
Your Dream Home may be available today and this is the season of less
competition from other Buyers. Sellers
will be open to fair market offers.
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.
Tuesday, November 4, 2014
Saturday, November 1, 2014
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