After some time off to recover from surgery, I am back at it again! I’m pumped and ready to hit the ground running!
So the most general question everyone has – what’s going on with the real estate market? I am here to provide “real facts” with figures from Metrolist, and give some “real advice” from my perspective as well.
So first, here’s a look at the entire Denver Metro area thru June 2011:
Sales in June 2011, including both Residential and Condo sales were 4,080 up 9.32% compared to May 2011 and up .84% compared to June of 2010.
The average sold price in June was $266,493. Up 3.62% from May 2011 and down -2.57% from June 2010. The average days on market is currently 104 days.
The number of active listings on the market is 18,026. up .77% from May 2011, and down (wow!) -20.55%
So what does that mean so far? Our average sales price in the Denver area has continued to do slow increases in the average sales price since Feb 2011. We have not seen values drop off dramatically, and continue to show signs of slight increase in the Denver metro area. Now that being said, each county, city, and neighborhood is different. Some areas show decrease, some increases. These figures are for the overall Denver area.
The average days on market is 104 days. Just over 3 months. Not bad, right? Most sellers who are currently listed are hitting the market with aggressive pricing, nice staging, and having their home projects completed for the market day of listing.
Total properties sold: Since Jan 2011, there has been an increase in sales each month. We are down compared to last year, BUT last year the Homebuyers Tax Credit was still in place. That was a big motivating factor for buyers to be closed by the end of June 2010.
Here’s the most dramatic figure, number of listings currently on the market. Down -20.55% from this time last year. Why? I believe alot of sellers have been “holding off” to see what the market has been doing. What does this mean if you have been thinking of selling. ALOT LESS COMPETITION!
Another note, the rental market right now is HOT! Even if you are not thinking of purchasing a home for yourself, but have been thinking of an investment. Now would be a GREAT time to look into the rental market.
Here’s a brief look into a few of the cities I serve:
Westminster- AVG sales price: $255,950 Active Listings: 597 June Sales: 138 AVG Days on Market: 77
Broomfield- AVG sales price: $343,877 Active Listings: 524 June Sales: 125 AVG Days on Market: 78
Denver- AVG sales price: $232,500 Active Listings: 3264 June Sales: 829 AVG Days on Market: 81
Arvada- AVG sales price: $242,183 Active Listings: 550 June Sales: 127 AVG Days on Market: 82
Thornton- AVG sales price: $211,056 Active Listings: 605 June Sales: 153 AVG Days on Market: 81
Erie- AVG sales price: $332,978 Active Listings: 272 June Sales: 66 AVG Days on Market: 88
Superior- AVG sales price: $400,129 Active Listings: 85 June Sales: 28 AVG Days on Market: 73
Louisville- AVG sales price: $372,865 Active Listings: 135 June Sales: 23 AVG Days on Market: 53
(I have more indepth real estate reports on each city, and would be happy to provide. Just send me an email.)
I attended our office meeting today, as I always try to do. Wanted to give some GREAT insight into what my office is doing. Okay, just like to pat our office on the back a little too!
In the month of June, our office closed 28 million! Isn’t that phenomenal! Why? We have a great group of agents with years of experience and integrity. We have so many tools provided to us by Coldwell Banker to get homes marketed properly and effectively. This gives us a huge step in differentiating us from our competition!
Our office is #1 in the following cities in comparison to all other offices (no matter what company) for units sold last 12 months:
Westminster, Broomfield, Northglenn, Erie
We are a VERY close second in Thornton & Brighton. Whoohoo! Go North Metro Coldwell Banker!
Mortgage rates are still great. If you want to know a few great lenders to work with, give me a call.
All in all, its a still a very good time to buy. Have your financials ready, and speak to a REPTUABLE lender. Then give me a call and lets talk about how I can help you find your next great home or investment property. I am ready to put my experience to work for you.
Lori Vialpando's Blog 