Market Metrics:
-
The inventory of available homes for sale is 4,399
homes at December month end
-
2,369 homes came onto the market
-
2,792 homes went under contract
-
4,110 homes closed
-
Median sold price $415,000
-
Average sold price $476,746
-
Closed dollar volume of $1.96 Billion.
Monthly Market Recap:
Single Family: Condo:
Active Month End Inventory is 2,823
Active Month End Inventory is 1,576
Sold Homes is 2,904
Sold
Homes is 1,206
Average Price is $520,159
Average
Price is $372,210
Median Price is $445,000
Median
Price is $305,000
Average Days on Market is 46
Average
Days on Market is 49
Year To Date Market
Recap:
Single Family: Condo:
Sold Homes is 38,467
Sold
Homes is 15,895
Average Sold Price is $526,784
Average Sold Price is $361,894
Median Sold Price is $450,000
Median Sold Price is $304,900
Average Days on Market is 36
Average
Days on Market is 52
Market Facts:
The Denver Metro Home Market has been changing.
Active listings are low.
Mortgage interest rates continue to be low.
Overall activity is slower for both Sellers
and Buyers.
Being a Seller or Buyer, do
your homework before getting into the home market.
Advice to Sellers:
HAPPY NEW YEAR!
The Metro Denver Seller’s home market continues to see changes.
The new challenge for sellers is accurate
pricing.
Seller’s will see more growth
but at a slow pace.
Homes are now taking
longer to sell and price appreciation is changing.
Sellers are slowing down because they cannot
buy the home of their choice.
With a
slower market and a healthier one, housing is improving and the economy is
steady.
Buyers always will determine
what your home is worth.
As a Seller,
think about these renovations: basement finish, bathroom remodeling, updating a
room, updating carpet & paint, adding new light bulbs, adding a deck.
As a Seller, if your home sits longer than a
month, it is time to revisit pricing and the data in your local 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.
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 an expert, 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:
HAPPY NEW YEAR!
The Metro Denver home market continues to change.
Keep your eye on the home market with now
fewer homes available.
Foremost, focus
on your lifestyle and home requirements.
As a Buyer, get into the home market at the right time.
As a Buyer, make the offer that works for you
and is the offer that you can complete to close the transaction.
Sellers are usually on a moving deadline and
can be more willing to negotiate the final price, meaning your getting the best
bang for your buck.
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.
