RE/MAX National Housing Report February 2020

RE/MAX National Housing Report February 2020

Hello,

I hope that your year is off to as good of a start as the housing market. I want to share just a few highlights from the January RE/MAX National Housing Report. Here are three things you need to know.

1. January posted the highest year-over-year sales gain in 11 years – up 10.5%.

2. While sales are up, the number of homes on the market reached its largest year-over-year drop since 2017 – down 15.6%.

3. Median sales prices hit $256,000 - a record for January.

So what do these numbers mean? People are buying homes; much of this has to do with how many millennials are entering the market. If you're thinking about buying or selling, let's get started before spring and summer. The numbers above are based on national numbers. I'd be happy to meet with you to discuss numbers in our local market and how they will affect your real estate needs.

I'm excited to help you every step of the way. Give me a call or reply to set up a time to meet.

RE/MAX National Housing Report January 2020

RE/MAX National Housing Report January 2020

Hello, 

Happy New Year! I hope that 2020 is off to a good start for you and your family. A new decade brings much excitement when it comes to the housing market. The year ended off with record numbers according to the RE/MAX National Housing Report. Here are three takeaways from the last report. 

• December saw record sales with year-over-year gains of 13.5% - the highest increase of any month in 2019 and the best December since 2009. 
• The number of homes on the market decreased by 14.5% - another record. 
• Sale prices were up 3.8%.

December’s record-breaking numbers are on the path to continue the first quarter of 2020. Interest rates are still low, and sales are expected to remain up throughout the first part of the year. If you’re thinking about a new home for the new year, it’s time to start your search. Let’s get together to talk about your needs. Please text, call or email to set a time to meet. 

Michael

Denver Real Estate market Update January 2020

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.

Denver Real Estate Market Update December 2019

7 COUNTY METROPOLITAN DENVER MARKET UPDATE

DECEMBER, 2019

-        The inventory of available homes for sale is 6,119 homes at November month end

-        3,385 homes came onto the market

-        3,720 homes went under contract

-        3,812 homes closed

-        Median sold price $419,000

-        Average sold price $478,230

-        Closed dollar volume $1.82 Billion. 

Monthly Market Recap:



Single Family:                                                         Condo:          

Active Month End Inventory is 3,992                                  Active Month End Inventory is 2,127

Sold Homes is 2,749                                                Sold Homes is 1,063             

Average Price is $522,811                                       Average Price is $362,832

Median Price is $447,000                                         Median Price is $309,000

Average Days on Market is 40                                 Average Days on Market is 44                     



Year To Date Market Recap:



Single Family:                                                         Condo:          

Sold Homes is 35,469                                              Sold Homes is 14,653

Average Sold Price is $527,469                               Average Sold Price is $361,169       

Median Sold Price is $450,000                                 Median Sold Price is $304,900

Average Days on Market is 35                                 Average Days on Market is 53





Market Facts:



The Denver Metro Home Market in November is seeing changes.  Active listings are decreasing.  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.  Homes are taking longer to sell.  Buyers now have fewer choices.  Sellers need to be aware of the market changes and the correct time frame for them to sell their home.

  

Advice to Sellers:



The Metro Denver Seller’s winter home market continues to see changes.  The new challenge for sellers is accurate pricing the year ahead.  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 winter renovations: insulation, finish the basement, remodel a bathroom, update a room, and add a deck.  As a Seller, if your home sits longer than a month, it is time to revisit the pricing strategy and activity 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 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:



The Metro Denver winter home market is here and changing.  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 in December 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.

Denver Real Estate Market Update November 2019

Market Metrics:



By the numbers, the inventory of available homes for sale is 7,516 homes at October month end

-        4,987 homes came onto the market

-        4,187 homes went under contract

-        4,432 homes closed

-        Median sold price $420,000

-        Average sold price $478,504

-        Closed dollar volume $2.12 Billion. 

Monthly Market Recap:



Single Family:                                                         Condo:          

Active Month End Inventory is 4,989                                  Active Month End Inventory is 2,527

Sold Homes is 3,160                                                Sold Homes is 1,272             

Average Price is $525,092                                       Average Price is $362,768

Median Price is $452,750                                         Median Price is $300,000

Average Days on Market is 36                                 Average Days on Market is 44                     



Year To Date Market Recap:



Single Family:                                                         Condo:          

Sold Homes is 32,493                                              Sold Homes is 13,518

Average Sold Price is $528,257                               Average Sold Price is $361,093       

Median Sold Price is $450,000                                 Median Sold Price is $303,500

Average Days on Market is 34                                 Average Days on Market is 53





Market Facts:



The Denver Metro Home Market is continuing seeing changes from prior years: active listings continue to increase, mortgage interest rates continue to be low, overall activity feels slower for both Sellers and Buyers, and as a Seller or Buyer, do your homework before getting into the home market.  Homes are taking longer to sell.  Buyers now have more choices and Sellers need to be aware of the market changes. 

Advice to Sellers:



The Metro Denver Seller’s home market continues to see a slowdown and changes.  A Seller Counseling Session 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 staging the home.  Even though the market activity has slowed down, you will still be seeing multiple offers on homes in the top condition and priced well.  Homes are now taking longer to sell and price appreciation is changing.  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, if your home sits longer than a month, it is time to revisit the activity in your neighborhood.



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 a local expert 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:



The Metro Denver home year end market is coming.  Keep your eye on the home market with more homes now available, and consider your family wants and needs.  Foremost, focus on your lifestyle and home requirements.  As a Buyer, 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 prepared to act quickly and know that the market is changing.  Even though we will see a slowdown of activity, the home market will continue to focus on Buyer’s.



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.

Denver Real Estate Market Update October 2019

7 COUNTY METROPOLITAN DENVER MARKET UPDATE

OCTOBER, 2019

Market Metrics:



By the numbers, the inventory of available homes for sale is 8,149 homes at September month end, 5,517 homes came onto the market, 4,395 homes went under contract, and 4,138 homes closed at a median sold price of $412,000 and an average sold price of $474,281 resulting in a closed dollar volume of $1.96 Billion. 



Monthly Market Recap:



Single Family:                                                         Condo:          

Active Month End Inventory is 5,580                                  Active Month End Inventory is 2,569

Sold Homes is 2,914                                                Sold Homes is 1,228             

Average Price is $525,661                                       Average Price is $352,046

Median Price is $447,000                                         Median Price is $309,450

Average Days on Market is 37                                 Average Days on Market is 48                     



Year To Date Market Recap:



Single Family:                                                         Condo:          

Sold Homes is 28,985                                              Sold Homes is 12,085

Average Sold Price is $529,149                               Average Sold Price is $360,948       

Median Sold Price is $450,000                                 Median Sold Price is $304,000

Average Days on Market is 34                                 Average Days on Market is 54

 

Market Facts:



The Fall Season is here, new active listings continue to increase, and Buyers and Sellers are not having the same experience as in the past several years.  With interest rates staying low and many buyers in the market, it continues to be a slow time to buy and sell.  Homes are taking longer to sale.  We are seeing much lower annual price increases.  The Metro Denver home market is moving closer to become a Buyer’s market.    

Advice to Sellers:



The Metro Denver Seller’s home market is now seeing a slow down and changes.  A Seller Counseling Session 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 staging the home.  Even though the market activity has slowed down, you will still be seeing multiple offers on homes that are in top condition and priced well.  Homes are now taking longer to sell and price appreciation is changing.  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, if your home sits longer than a month, it is time to revisit the activity in your neighborhood and 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 a local expert 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:



The Metro Denver home fall market is here.  Keep your eye on the home market with more homes now available, and consider your family wants and needs.  Foremost, focus on your lifestyle and home requirements.  As a Buyer, 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 prepared to act quickly and know that the market is changing.  Even though we will see a slowdown of activity, the home market will continue to focus on Buyer’s.



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.

RE/MAX National Housing Report September 2019

RE/MAX National Housing Report September 2019

The Market is Changing Make Sure you are Prepared!

Michael Kozlowski ranked as high as the #1 Individual RE/MAX Agent in the State of Colorado! 

Check us out www.team-koz.com

Did you know that fall is an incredible time to buy or sell a home? With that in mind, I wanted to give you a quick update on the housing market from the RE/MAX National Housing Report.

Three Things You Need to Know About Housing
- Home sales slipped slightly year-over-year.
- Buyer demand outpaced the number of homes on the market.
- The number of homes on the market saw its most significant decline in 13 months.

What’s this mean? It means that low interest rates have enticed more buyers, and sellers may be a bit hesitant to put their home on the market. But, with more buyers, it is still a seller’s market. If you’re thinking about a move or want to learn more about our local market, let's talk. Please reply to this email or give me a call to talk about your real estate needs.

Denver Real Estate Market Update September 2019

7 COUNTY METROPOLITAN DENVER MARKET UPDATE

SEPTEMBER, 2019

By the numbers:

-        The inventory of available homes for sale is 8,181 homes at August month end

-        6,164 homes came onto the market,

-        4,705 homes went under contract

-        5,154 homes closed

-        Median sold price $420,000

-        Average sold price $477,545

-        Closed dollar volume $2.46 Billion. 

Monthly Market Recap:



Single Family:                                                         Condo:          

Active Month End Inventory is 5,673                                  Active Month End Inventory is 2,508

Sold Homes is 3,609                                                Sold Homes is 1,545             

Average Price is $523,862                                       Average Price is $369,350

Median Price is $452,500                                         Median Price is $306,500

Average Days on Market is 33                                 Average Days on Market is 50                     



Year To Date Market Recap:



Single Family:                                                         Condo:          

Sold Homes is 25,990                                              Sold Homes is 10,831

Average Sold Price is $529,727                               Average Sold Price is $361,958       

Median Sold Price is $450,000                                 Median Sold Price is $302,900

Average Days on Market is 34                                 Average Days on Market is 55



Market Facts:



Even though we are seeing 60 new metro Denver residents daily, market activity has slowed down.  New active listings continue to increase.  Buyers and Sellers are not having the same experience as in the past several years.  Schools are back in session.  With interest rates staying low and many buyers in the market, it continues to be a slow time to buy and sell.  Homes are taking longer and longer to sell    

Advice to Sellers:



The Metro Denver home market is now seeing many changes. Consider being proactive and learn about the value of renovations and or upgrades, decluttering, and staging your home.  Buyer demand will continue as we see more Buyers and investors in the market.  Some Buyers will be looking for a new home now as the school session has started.  Homes are now taking longer to sell and price appreciation is changing.  Buyers always will determine what your home is worth.  As a Seller, if your home sits longer than a month, it is time to revisit market data in your area.



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, be realistic about your budget, start saving as soon as possible, create your plan, grow your credit score, lock in your rate now, keep your eye on the home market because more homes are now available, and consider your family wants and needs..  First and foremost, focus on your lifestyle and home requirements.  As a Buyer, get into the home market now while there are good options available and rates are low.  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 prepared to act quickly and know that the market is changing.



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.

RE/MAX National Housing Report August 2019

RE/MAX National Housing Report August 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 www.team-koz.com

July saw a bounce back in home sales from the disappointing June. It appears that low-interest rates encouraged more buyers to jump into the market in July according to the latest RE/MAX National Housing Report. Here are three takeaways.

- Home sales Increased year-over-year by 2.4%.

- The number of homes on the market declined for the first time in nine months.

- Prices were up year-over-year for the seventh month in a row.

So what can you expect if you’re entering the market this fall? If you’re selling, things are looking up for you. Buyers can expect higher prices. However, interest rates remain in your favor. As we wrap up the end of August, keep in mind that fall is a great time to be in the market. Let’s talk about our local market in person. Give me a call, shoot me a text, or reply to this email to set up a time to meet.

Have a wonderful Labor Day weekend,

Denver Real Estate Market Update August 2019

7 COUNTY METROPOLITAN DENVER MARKET UPDATE

AUGUST, 2019

By the numbers

-        The inventory of available homes for sale is 8,156 homes at July month end

-        6,019 homes came onto the market

-        4,909 homes went under contract

-        5,355 homes closed

-        Median sold price $427,500

-        Average sold price $487,198

-        Closed dollar volume of $2.61 Billion. 

Monthly Market Recap:



Single Family:                                                         Condo:          

Active Month End Inventory is 5,742                                  Active Month End Inventory is 2,414

Sold Homes is 3,819                                                Sold Homes is 1,536             

Average Price is $539,632                                       Average Price is $356,829

Median Price is $463,500                                         Median Price is $310,000

Average Days on Market is 26                                 Average Days on Market is 46                     



Year To Date Market Recap:



Single Family:                                                         Condo:          

Sold Homes is 22,328                                              Sold Homes is 9,268

Average Sold Price is $530,798                               Average Sold Price is $360,963       

Median Sold Price is $450,000                                 Median Sold Price is $302,000

Average Days on Market is 34                                 Average Days on Market is 56





Market Facts:



Buyers and Sellers pulled back in July and we are now seeing many concessions taking place.  New active listings continue to increase.  Buyers are also working with new home builders.  For Sellers, you will see an increase in offers, negotiations, and the possibility of price adjustments.  With interest rates staying low and many buyers in the market, it continues to be a perfect time to buy and sell.  Metro Denver will continue to see a change in the home market.

Advice to Sellers:



The Metro Denver home market is now seeing many concessions.  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 staging the home.  Buyer demand will continue as we see more Buyers and investors in the market.  Many Buyers will be looking for a new home prior to the start of the school season.  Homes are now taking a little longer to sell and price appreciation is changing.  Buyers always will determine what your home is worth.  As a Seller, if your home sits longer than a month, it is time to revisit the marketing strategy.



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, introduction to a net sheet to understand the bottom line, 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, be realistic about your budget, start saving as soon as possible, create your plan, grow your credit score, lock in your rate now, keep your eye on the home market because more homes are now available, and consider your family wants and needs..  First and foremost, focus on your lifestyle and home requirements.  As a Buyer, 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 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.