Saturday, March 30, 2019

RE/MAX National Housing Report February 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

Spring is finally here! I don’t know about you, but I love the change of the season. The season’s not the only thing changing according to the RE/MAX National Housing Report. Here are three things to take away from last month’s report.

1. Home sales were down for the seventh consecutive month. They were down 4.2% from February 2018.

2. Inventory grew for the fifth month in a row. It was up 5.8% year over year.
The median sales price also grew by 5.5% to $240,000.

3. All signs are pointing to the market slowly balancing as it transitions from a seller’s market to a buyer’s market. However, with home sale prices on the rise, pricing is still in the seller's favor.

It’s going to be a busy spring! If you’re thinking about buying or selling, let’s get started. Give me a call, send me a text, or reply to this email to set up a meeting to talk about your situation.

Thank you for trusting me as your local real estate expert!

Saturday, March 16, 2019

Denver Real Estate Market Update March 2019


MARCH, 2019

By the numbers:

-        The inventory of available homes for sale is 5,375 homes at February month end

-        4,701 homes came onto the market

-        3,901 homes went under contract

-        3,175 homes closed

-        Median sold price $399,000

-        Average sold price $456,802

-        Closed dollar volume $1.45 Billion. 

Monthly Market Recap:

Single Family:                                                                   

Active Month End Inventory is 3,603                                 

Sold Homes is 2,204                                                                     

Average Price is $506,388                                      

Median Price is $427,275                                        

Average Days on Market is 48                                                       


Active Month End Inventory is 1,772

Sold Homes is 971

Average Price is $344,251

Median Price is $295,000

Average Days on Market is 50

Year To Date Market Recap:

Single Family:                                                                   

Sold Homes is 4,145                                               

Average Sold Price is $498,807                                          

Median Sold Price is $425,000                                

Average Days on Market is 49                                


Sold Homes is 1,772

Average Sold Price is $350,201

Median Sold Price is $292,500

Average Days on Market is 57

Source: – March 5, 2019

The above representation for Single Family and Condo includes real estate activity in the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.

Market Facts:

The February Metro Denver home market is definitely seeing a seasonal market pick up with homes on the market, homes closing, moderate price appreciation, and many millennial buyers.  Metro Denver is still a highly competitive housing market.  Strong job market and gradual decline in mortgage interest rates will continue to usher housing demand.  As a Buyer or Seller, know what is happening in the home market and the local, state, and national economy.

Advice to Sellers:

What should you do if you are ready to sell your home?  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.  Buyer demand will continue as we see more Buyers in the market.  Buyers are now all generation from young age to older age.  Homes are now taking a little longer to sell and price appreciation is minimal.  Buyers always will determine what your home is worth.  As a Seller, focus on 2019 and the changes in the home market.

With continued Metro Denver population growth and consumer demand for home ownership, market frenzy is here, and can be expected to continue for several months.

Manage your expectations, be flexible, 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 local expert, 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, you will probably see that the number of competing Buyers will continue.  Sellers will continue to focus on the sale of their home.  First and foremost, focus on your lifestyle and must haves.  As a Buyer, be the early bird and get into the home market now. As a Buyer, be aware that the mortgage interest rates are not increasing now in 2019.   

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.