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.
When the housing market crashed in 2008, millions of homeowners suddenly found themselves in danger of losing their homes to foreclosure. To help these homeowners, in 2009 the U.S. Treasury launched the Making Home Affordable (MHA) program, which is comprised of several subprograms designed to help distressed homeowners avoid foreclosure.
One of the most talked about elements of the MHA program is the Home Affordable Foreclosure Alternatives program, or HAFA. The HAFA program creates options for homeowners who owe more on their mortgage than the property is worth and don’t know what to do. Even better, it allows relocation assistance of $3,000 to be paid to eligible homeowners in this situation.
HAFA also helps the process go more quickly by mandating that banks keep in contact and make decisions in a timely fashion. To learn more, you can download my free report entitled “Struggling to Make Your Mortgage? Uncle Sam May Pay You to Sell Your House!” by filling out the form below.
As a real estate professional with the Certified Distressed Property Expert (CDPE) designation, I offer all of my clients the benefit of the best expertise and insights when it comes to foreclosure avoidance.
With summer over (Hey where did it go) and we are into the end of the first week of fall, I still want to enjoy the warm, sunny, snow free weather. So here are some great things to do before we have to bundle up.
The first Saturday from May 2 thru Oct. 3rd (which is this week) check out the Paris Street Market at Aspen Grove. It is as close as we can get to an open-air Paris flea market this side of the Atlantic. They have antiques, vintage clothing, vintage jewelry and even some interesting things for your home. It is open from 8:00 a.m. to 3:00 p.m. This Saturday is the last one until May. Oh by the way it’s free.
Some of you may have noticed that this year the Parade of Homes has changed. This year it will be Denver Luxury Home Tour, instead of going to one subdivision/neighborhood to see 10 gorgeous homes this year you can see homes throughout the metro area from Niwot to Castle Rock, you can take a month to look at these home and go at your own pace. What a great way to get decorating idea and if you’re thinking about doing a little remodeling, it’s a great way to see what the latest and greatest in homes are being done. The price for this great adventure is $15.00 and kids under 12 are free.
Tickets can be purchased online at Denver Luxury Home Tour or at King Soopers. You will take your voucher to one of the homes in exchange for a Tour Passport book, the Passport will allow you into each home once during the 5 week run. Now enjoy the tour. The tour runs from June 5th through July 5th, Friday – Sunday 11:00 a.m. to 6:00 p.m.