Wednesday, November 28, 2018

RE/MAX National Housing Report October 2018

Michael Kozlowski #1 Individual RE/MAX Agent in the State of Colorado Selling Homes Above Full Price in 2018! Check us out:
I hope your holiday season is off to a great start and full of laughter and fun. Those of you wishing for a more balanced housing market might be slowly getting what you’re looking for according to the RE/MAX National Housing Report.
Here are three key takeaways from this month’s report:
1.)Year-Over-Year home sales dropped 4.6% in October - that’s the third month in a row.
2.)Inventory increased for the first time in a decade according to the housing report.
3.) Sales prices in October were one of the lowest increases in 2018.
All of this points to better news for buyers this holiday season as the “market moves towards equilibrium” according to Adam Contos, CEO of RE/MAX. If you have a moved planned for the holiday season or want to start preparing for a move in 2019, I’d be happy to meet with you to talk about what you can do now to help begin the process.
I hope you have a wonderful holiday season.
Michael Kozlowski

Wednesday, November 14, 2018

Denver Real Estate Market Update November 2018



By the numbers:

-        The inventory of available homes for sale is 7,772 homes at October month end

-        4,986 homes came onto the market

-        3,665 homes went under contract

-        4,131 homes closed

-        Median sold price $398,900

-        Average sold price $462,440

-        Closed dollar volume $1.9 Billion. 

Monthly Market Recap:

Single Family:                                                                   

Active Inventory is 5,563                                                   

Sold Homes is 2,890                                                                      

Average Price is $515,780                                      

Median Price is $430,000                                        

Average Days on Market is 38                                                       


Active Inventory is 2,209

Sold Homes is 1,242

Average Price is $338,153

Median Price is $295,000

Average Days on Market is 67

Year To Date Market Recap:

Single Family:                                                                   

Sold Homes is 31,492                                             

Average Sold Price is $515,520                                         

Median Sold Price is $439,900                                

Average Days on Market is 30                                


Sold Homes is 13,084

Average Sold Price is $346,812

Median Sold Price is $295,000

Average Days on Market is 57

Market Facts:

The October Metro Denver home market is more of a normal fall season than the decline noted in the previous months even though October traditionally starts the home market slowdown.  The number of active listings has increased, the number of homes sold has decreased, the home price appreciation is slowing down, buyer demand is changing, and mortgage interest rates are increasing.    As a Buyer or Seller, know what is happening in the home market.

Advice to Sellers:

The Metro Denver Seller’s fall home market is here and Sellers should know what is happening in the market.  Active listings have increased.  Buyer demand continues.  Price appreciation levels are dropping.  Interest rates are increasing.  Homes are now taking longer to sell.  Buyers always will determine what your home is worth.  As a Seller, it is time to focus on getting off the fence, knowing what is happening in the home market, what are the home market statistics, and what is your current home value.  Be realistic in your outlook and stay focused on the home sale.

The Metro Denver home market is seeing a decrease in showings, fewer multiple offers, more homes coming back on the market. and buyers who are cognizant of the home market changes.  Manage your expectations, be flexible, be civil, and accept the offer that works best for you the Seller.

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 market expert and can assist in the Professional plan to sell one’s home.

Advice to Buyers:

The fall Denver home market is here.  As a Buyer, know that the homes available for sale will continue to increase.  As a Buyer, you will probably see that the number of Buyers will continue to be a high number.  Sellers will continue to focus on the sale of their home; but, they know that the market is changing and as a Seller, they will have to consider the changes taking place in the Metro Denver Home Market.  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 will increase several more times.  As a Buyer, if you do not buy now, in the future you will have less opportunity.  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.