Current Market Conditions:
How They Impact You!


Denver, Colorado, is experiencing a buyers market at this time, but we have good news and ... even better news!

The good news lately is the median and average sales prices for March and April have come up, a trend we haven't seen since last summer!

The median sales price for a single family home climbed from $203,950 in March to $210,000 in April.  The average sales price for a single family home climbed from 251,583 in March to $254,442 in April.

Homes are averaging 102 days on the market.

The 'even better news' is inventory levels continue to decline -- with a 9.9% increase from March 2009 to April 2009.  Less homes on the market, means less homes to compete with and higher values.  This is good news for sellers.

Having said that, we are still not out of the woods yet.  With approximately only 17% of the market selling each month, sellers must price aggressively and/or improve the condition of their home.  

For those who have been on the market over 30 days and still have not had any offers, consider one of the following...
1. Improving the condition of your home.
2. Increase the buyer agent's commission by 1-2% to create more incentive for agents to show your home as opposed to the competition.
3. Reduce the price right away.

Additionally, interest rates are at historic lows and affordability is at historic highs, so this is the time to buy cheap with inexpensive financing and to sell when buyers can afford more due to more affordable rates.

Metrolist (MLS) Sales Statistics

                                April 2009

Homes Listed:                      15,639
Homes Sold:                          2,706

Sold %:                                  17.3%
Unsold %:                              82.7%

 


Expired Listings:                       709

 

*Statistics provided by Denver Metrolist*


Call Renato right away for updates and other real estate advise!  303-506-0281