Saturday, September 30, 2017

RE/MAX National Housing Report September 2017

RE/MAX National Housing Report September 2017

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Friday, September 15, 2017

Denver Real Estate Market Update September 2017



By the numbers:

-          The inventory of available homes for sale is 6,506 homes at August month end

-          5,938 homes came onto the market

-          4,873 homes went under contract

-          5,152 homes closed

-          Median sold price $375,000

-          Average sold price $427,188

-          Closed dollar volume $2.2 Billion. 

Monthly Market Recap:

Single Family:                                                                       

Active Inventory is 4,902                                                      

Sold Homes is 3,590                                                                          

Average Price is $476,180                                         

Median Price is $409,000                                          

Average Days on Market is 28                                                          


Active Inventory is 1,604

Sold Homes is 1,562

Average Price is $314,587

Median Price is $270,750

Average Days on Market is 38

Year To Date Market Recap:

Single Family:                                                                       

Sold Homes is 26,056                                                

Average Sold Price is $475,502                                            

Median Sold Price is $408,000                                  

Average Days on Market is 31                                  


Sold Homes is 10,647

Average Sold Price is $312,756

Median Sold Price is $265,000

Average Days on Market is 39

Market Facts:

Summer nears the end.  For the second consecutive month, the home market continues a slowdown and seasonal cooling. The home market continues to be a Seller’s market; but, Buyers are not as aggressive as they have been in the past.  Low inventory of active listings continues to impact the home market.  Price appreciation is also slowing down.  New home builders continue changing their products.  As always, be prepared.

Advice to Sellers:

The Denver Seller’s market slowdown continues.  With sales slowing and the inventory of active listings reaching its seasonal peak, the Denver home market is cooling.  It is time as a Seller to focus on the following six (6) items to attract more Buyer’s:  (1) enhancing the kitchen, (2) updating or refinishing flooring, (3) updating the bathrooms, (4) bringing in new cabinetry, (5) updating electrical wiring and wire for internet, and (6) adding lots of storage.  Always remember that as a Seller you need to leave a great lasting impression on all Buyers when they are shown your home.  Home builders continue changing their product line; so, this may be new competition.

The Denver home market is seeing a decrease in showings, fewer multiple offers, and buyers who are cognizant of the market change.  Yes, buyers want to own a home; but with more homes available on the market, they are looking at all active listings within their home choices.

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, is hyper local 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:

The Denver home market continued to show signs of leveling off and preparing for the upcoming fall season.  We will see a slowdown of activity; but, overall the home market will continue to be the Buyer’s destination.  Be prepared to act quickly, create your home buying plan, and stick to it.

There are discussions going on regarding a “housing bubble”.  In reality, this is only a discussion because this home market is seeing more incoming Buyers into the market and certain generational individuals becoming Buyers.

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.