Thursday, June 14, 2018

Denver Real Estate Market Update June 2018

Denver Real Estate Market Update June 2018

Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado! Selling Homes Over Full Price Already in 2018!

JUNE, 2018

By the numbers:

-        The inventory of available homes for sale is 5,704 homes at May month end

-        7,145 homes came onto the market

-        5,043 homes went under contract

-        5,322 homes closed

-        Median sold price $417,000

-        Average sold price $479,035

-        Closed dollar volume $2.549 Billion. 

Monthly Market Recap:

Single Family:                                                                   

Active Inventory is 4,286                                                   

Sold Homes is 3,852                                                                      

Average Price is $526,553                                      

Median Price is $448,000                                        

Average Days on Market is 23                                                       


Active Inventory is 1,418

Sold Homes is 1,470

Average Price is $354,518

Median Price is $302,750

Average Days on Market is 37

Year To Date Market Recap:

Single Family:                                                                   

Sold Homes is 14,229                                             

Average Sold Price is $515,280                                         

Median Sold Price is $440,000                                

Average Days on Market is 31                                


Sold Homes is 6,075

Average Sold Price is $347,783

Median Sold Price is $294,085

Average Days on Market is 60

Market Facts:

May was an active month for the Metro Denver home market as we saw more new listings and more homes sold.  Many Buyers are in the market with a goal to be in their new home before the start of the fall school season. Buyer demand continues to outpace the active listings but inventory rose significantly this month.  Seller or Buyer, be prepared as the prime season will be creative and could be a market frenzy in some areas and price ranges.  As always, be prepared and get real about your expectations.

Advice to Sellers:

The Metro Denver Seller’s home market continues and Buyer’s are now looking to purchase a home so they can live in a neighborhood that will allow them to have Life Style choices and potentially have their children go to the school of their choice.  As a Seller, you should pretty much know what Buyer’s are looking for and know that you have to create a lasting impression of your home as you are offering your home for sale.  Buyer’s continue to focus on “Smart Homes”, “Healthy Homes”, and Life Style 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, market knowledgeable, and can assist in the Professional plan to sell one’s home.

Advice to Buyers:

Now is the time to buy as the Denver home market is strong and healthy.  Buyer demand is greater than the number of homes for sale.  As a Buyer, make the offer that works for you and is the offer that you can complete to close the transaction.  The Denver home market is becoming very creative again with multiple offers, bidding opportunities, and price appreciation.  Similar to the above comments, be prepared to act quickly.  Be aware that Sellers are becoming concerned with Buyers who make a competitive offer, get the home under contract, and later terminate the contract.

The Metro Denver population is increasing and Buyer’s are looking for their American Home Dream.  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.

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