“For the seller, they’re giving up their home where they have all of these attachments. For the buyer, it’s about painting a picture of their new lives and then carrying them through the whole process to a positive result.” – Sally Foster Jones, SFJ Group.
The song “Let it snow” has the words, “Oh the weather outside is frightful. And the fire is so delightful,” but buying or selling a home during the holidays can be a good idea.
Here are a few things to think, whether you’re a seller or a buyer, during this holiday season.
Welcome to the Month of June, it is hard to believe that next week will be the 4th of July. Here is Denver we are trying to stay dry, with all the rain and dodging hail storms. The Real Estate market is also keeping us jumping, with a low number of homes for sale compared to the rest of the country. Here are a few highlights.
We saw a slight increase of active homes in May to 5,157
Inventory is up by 13.7% over April
Under Contracts up 4.4% from a month ago
Sold properties up 10.3% last month
Homes priced $200,000 – $399,999 are moving the fastest with 75% of homes on the market going under contract in 7 days or less
Homes priced between $400,000 – $599,999, 52% go under contract in 7 days or less
Homes between $600,000 – $799,999, 38% go under contract in 7 days or less
Homes $800,000 – $999,999, 36% go under contract in 7 days or less.
1M – 3M, 19% go under contract within 7 days or less.
Average Sold price is up to $419,465 for detached single family homes.
Average Sold price for Attached homes is up to $261,886.
These number reflect the 7 Metro Counties which include: Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert and Jefferson Counties.
Have questions? Wondering what you home could sell for in today’s market, contact us TODAY!
Here are some quick highlight of what is going on in the Denver Real Estate Market for the month of July.
In July 2013 50.6% of closed transactions went for at or over their asking price compared to 55.5% in June of the same year.
In July 2013 38.7of closed transactions went under contract in 7 days or less compared to 42.7% in June 2013
Here are some interesting market activity: These figures represent Single Family Homes
July 2011 there were 14,014 Active Homes on the market
July 2012 there were 9,087 Active on the market Homes
July 2013 there were 8,286 Active homes on the market
July 2011 Under Contract Homes were 3,386
July 2012 Under Contract Homes were 4,181
July 2013 Under Contract Homes were 5,752
Sold Homes in 2011 3,082
Sold Homes in 2012 3,713
Sold Homes in 2013 4,857
Which means that inventory is down -8.81% from July 2012
The average days on market is 37 days and this is in all price ranges, with the shortest days on market in 24 days in the price range of $200,000-$399,000 with the largest days on market of 135 days in the price range of 1M-3M. This is for residential properties in the Metro Denver area.
So what does all these number mean. If you are a seller it is a good time to sell, especially if you have been putting off selling the last few year. Do remember that pricing your property right the first time your property will go under contract faster and possibly for a higher price, netting you more money. Of course, you will take into consideration condition, location, what has sold in the neighborhood, etc.
Curious about what your property would sell for in today’s market? Visit CullisColoradohomes.com and visit the Market Insider tab to see what is happening in your neighborhood. Ready to make a move contract me, Ruth Cullis
*Based on information from Metrolist, Inc. for the period shown above. This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market.
Here is a great opportunity to live downtown and enjoy the Rockies baseball season and not fight traffic. This great two-story loft property is waiting for a new owner. Located on the corner of 25th and Blake street, you are just a 13 minute walk to Coors Field.
The two bedroom two and a half bathroom loft with exposed brick walls and wood beams is closed to all that LODO and downtown Denver has to offer. The main floor features a great room feel, gleaming hardwood floors, tons of natural light, master bedroom with five piece master bath and walk-in closet, an additional room to use as a home office, the kitchen boasts stainless appliances, granite counter tops and backspash, cherry cabinets. The lower level makes a perfect additional bedroom or family /recreation room and a full bath. You have access to a workout area, party room and storage area. All located in the historic Lumber Loft Warehouse.
What a great time to purchase a home, just in time to use the $8000.00 first time home buyer tax credit or to $6500.00 move up buyer tax credit. For more information about the tax credits or the see this spectacular property contact me.