Denver Real Estate Statistics – April, 2018
SPRING IS HERE AND THE MARKET IS HOT
It is obvious that the spring real estate market has arrived! Open House signs line Denver streets each weekend, and Buyers are out in droves trying to find their perfect Denver home. They are still facing steep competition with multiple offer situations and limited inventory. The numbers show that there is no cool down in the market, as some had predicted might happen this year – the average sold price rose to $470,619 for Single Family Homes and Condos, and the average sold price for Single Family Homes alone rose to a staggering $522,277, up almost 4% from last month.
Fortunately, more listings have been coming onto the market, with active inventory up 13%, which is appropriate for the time of year, but they are tending to go Under Contract quickly. According to DMAR, listings have been hitting the market Thursdays with offer deadlines on the following Monday. This builds competition as Buyers and their Agents know that they need to get their offers in quickly and make sure they are strong enough to be the winning bid.
That’s where having an experienced real estate agent is so important! From my years of experience, I know what Buyers need to do to create a strong offer. In a market like this, your offer needs to stand out with items that are attractive to the Seller, and I am always here to help you during this process to advise and guide you. Proper representation is so important in the market we’re in, and I would love to help you successfully get the home of your dreams!
Sellers – you are in a unique position as well! While you do have an upper-hand in a Seller’s Market, setting the right price for your home is imperative if you want to get multiple offers and the best return. Listing at the wrong price could be detrimental to your plan to get top dollar. It may seem simple, but there are a lot of things to factor into your pricing decision, and I am here to help you come up with the ideal list price.
Finally, here is another push for Sellers – according to Zillow, the ideal time to sell in Denver is between May 16 and May 31. As that is just over a month away, now is the perfect time to chat with me about getting everything prepared for this lucrative time of year! It predicts that Sellers during this two week time frame may get an extra $5,600. If you’ve been interested in entering the market, this may be the perfect time!
I’d love to talk with you about what you can expect in today’s market! Don’t hesitate to reach out and we can grab a coffee or a drink and dive into what you can expect right now.