7 COUNTY METROPOLITAN DENVER MARKET UPDATE
APRIL, 2019
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The inventory of available homes for sale is 5,616
homes at March month end
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5,739 homes came onto the market
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4,657 homes went under contract
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4,084 homes closed
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Median sold price $410,000
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Average sold price $469,177
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Closed dollar volume $1.916 Billion.
Monthly Market Recap:
Single Family:
Active Month End Inventory is 3,781
Sold Homes is 2,848
Average Price is $517,786
Median Price is $445,000
Average Days on Market is 40
Condo:
Active Month End Inventory is 1,835
Sold Homes is 1,236
Average Price is $357,174
Median Price is $299,975
Average Days on Market is 64
Year To Date Market
Recap:
Single Family:
Sold Homes is 7,091
Average Sold Price is $506,428
Median Sold Price is $432,001
Average Days on Market is 46
Condo:
Sold Homes is 3,056
Average Sold Price is $353,286
Median Sold Price is $295,550
Average Days on Market is 60
Market Facts:
March is out like a lion, Spring is here, the Metro Denver
Home Market is improving as Buyers are out in full force. Despite the bomb
cyclone and cold weather, the market saw spring picking up.
Sellers need to be priced right from the very
beginning and make sure the home is move in ready.
As a Buyer or Seller, know what is happening
in the home market.
Metro Denver
continues to be a top home market.
Advice to Sellers:
The Metro Denver home market is moving forward with Spring.
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, decluttering, and preparing the home. Buyer demand will continue as
we see more Buyers in the market. 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.
As a Seller, your home needs to be priced right from the
very beginning.
Manage your
expectations, make sure your home is move-in ready, be flexible, and accept the
offer that works best for you the Seller.
Note that Buyers are bringing their A game to the Denver Home Market.
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.
Now is the time
to reach out to a Professional.
Advice to Buyers:
As a Buyer, you will probably see that the home market is
moving forward with competing Buyers.
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, 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 are not increasing now in 2019.
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.
