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    Greater Metropolitan Denver Market Update MARCH, 2013: Active Inventory Is 5,541 Homes at Month End

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    Michael Kozlowski
    The Denver housing market update for March 2013 shows: - Inventory of available homes fell to 6,786, the lowest level since 1985 - 5,033 homes went under contract in February - Median single family home sales price rose 15% year-over-year to $252,500 The low inventory and high demand mean it remains a strong seller's market, though each home's uniqueness suggests working with a professional when buying or selling.

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    Greater Metropolitan Denver Market Update MARCH, 2013: Active Inventory Is 5,541 Homes at Month End

    Uploaded by

    Michael Kozlowski
    27 views2 pages
    The Denver housing market update for March 2013 shows: - Inventory of available homes fell to 6,786, the lowest level since 1985 - 5,033 homes went under contract in February - Median single family home sales price rose 15% year-over-year to $252,500 The low inventory and high demand mean it remains a strong seller's market, though each home's uniqueness suggests working with a professional when buying or selling.

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    The Denver housing market update for March 2013 shows: - Inventory of available homes fell to 6,786, the lowest level since 1985 - 5,033 homes went under contract in February - Median single family home sales price rose 15% year-over-year to $252,500 The low inventory and high demand mean it remains a strong seller's market, though each home's uniqueness suggests working with a professional when buying or selling.

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    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    27 views2 pages

    Greater Metropolitan Denver Market Update MARCH, 2013: Active Inventory Is 5,541 Homes at Month End

    Uploaded by

    Michael Kozlowski
    The Denver housing market update for March 2013 shows: - Inventory of available homes fell to 6,786, the lowest level since 1985 - 5,033 homes went under contract in February - Median single family home sales price rose 15% year-over-year to $252,500 The low inventory and high demand mean it remains a strong seller's market, though each home's uniqueness suggests working with a professional when buying or selling.

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    GREATER METROPOLITAN DENVER MARKET UPDATE MARCH, 2013 Market Metrics: By the numbers, the inventory of available homes

    for sale is: - 6,786 homes at February month end - 4,675 homes came onto the market - 5,033 homes were placed under contract - 2,967 homes closed for a closed dollar volume of $820 Million. The spring home selling market started early this year with the lowest month end inventory recorded this February month end. Monthly Market Recap: Single Family: Active Inventory is 5,541 homes at month end Sold homes is 2,363 Average Days on Market is 81 Median Sold Price is $255,000 Average Sold Price is $302,475 Condos: Active Inventory is 1,245 homes Sold homes is 604 Average Days on Market is 73 Median Sold Price is $143,750 Average Sold Price is $175,351 February Year-to-Date Market Recap (2013 versus 2012): Single Family: Active Inventory 5,541 versus 8,082 (31%) Sold Units 4,706 versus 3,971 (19%) Median Price $252,500 vs $219,900 (15%) Average Price $302,152 vs $271,577 (11%) Sales Volume $1.4B versus $1.1B (32%) Days on Market 81 versus 105 (23%)

    Condos: Active Inventory 1,245 versus 2,004 (38%) Sold Units 1,214 versus 994 (22%) Median Price $141,750 vs $118,000 (20%) Average Price $173,049 vs $154,137(12%) Sales Volume $210M versus $143M (37%) Sales Volume $210M versus $143M (37%) Days on Market 72 versus 104 (31%) February Market Facts: At February month end, the inventory of homes available on the market @ 6,786 homes reached yet another new low since January, 1985. With this in mind, the Months Supply of Inventory is 1.75 months for Single Family and 1.60 months for Condos. Months Supply of Inventory is calculated by taking the last twelve months homes sold numbers and calculating an average. This number is then divided into the month end inventory to produce the Months Supply of Inventory. Advice to Sellers: The Denver market is in the midst of the spring home selling market and overall, Denver is experiencing a sellers market. Looking to sell your home now? What do you need to know? Well, lets begin with the basics. Below are some questions that you need to ask yourself: What is my home worth? How does my home compare to the competition? Do I have enough equity in my home to sell it today? Is now the right time to sell my home? What are Buyers looking for? What does first impression mean? What do I need to do to make my home marketable? Should I invest in remodeling? Will my home sell? If my home sells, what are my next steps?

    Buyer demand continues and the inventory of homes available for sale is at an all time low. While this can be portrayed as a sellers market, each and every home is unique which suggests professional assistance in selling the home Advice to Buyers: Be an informed buyer. Know what you want. In this sellers market, each and every home is unique which suggests professional assistance in buying a home.

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