Welcome to the "Blizzard Of 2016"! With over a foot of snow on the ground and yesterday's winds topping 50 mph, I thought it would be a great time to give you some news that will get your temperature up! Read on and you will see some great info to help you make the biggest decisions of your life that much easier. The market is hot -- make that burn work for you! Call the Simonson Team today! 303-229-6026.
7 COUNTY METROPOLITAN DENVER MARKET UPDATE
MARCH, 2016
Market Metrics:
By the numbers, the inventory of available homes for sale is
3,627 homes at February month end, 4,081 homes came onto the market, 3,971
homes went under contract, and 2,925 homes closed at a median sold price of $328,000
and an average sold price of $375,696 resulting in a closed dollar volume of $1.1
Billion.
Monthly Market Recap:
Single Family: Condo:
Active Inventory is 2,847 Active
Inventory is 780
Sold Homes is 2,024 Sold
Homes is 902
Average Price is $417,538 Average
Price is $282,106
Median Price is $360,000 Median
Price is $226,000
Average Days on Market is 46 Average
Days on Market is 42
Year To Date Market
Recap:
Single Family: Condo:
Sold Homes is 4,066 Sold
Homes is 1,706
Average Sold Price is $414,851 Average Sold Price is $276,572
Median Sold Price is $354,000 Median Sold Price is $221,250
Average Days on Market is 46 Average
Days on Market is 42
Source: REcolorado.com – March 3, 2016
The above
representation for Single Family and Condo includes real estate activity in the
counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.
Market Facts:
February was another amazing month in the Denver home
market. Even though consumer confidence
decreased month over month, the consistent media exposure talked about the #1
home market being the Denver area. The
number of homes for sale set a new record low.
With that being said, active listings are in high demand. Buyers and Sellers need to be aware of all
facts impacting the Denver home market as the prime home selling and buying
season is here.
Real estate is local. While the
above is a representation of the Denver market as a whole, please contact The
Simonson Team to better understand your specific real estate market.
7 COUNTY METROPOLITAN DENVER MARKET UPDATE
MARCH, 2016
Advice to Sellers
What should you do if you are ready to sell your home? First and foremost, don’t overprice your
home, make your home shine and stand out from the competition, and
de-clutter. Many current home owners are
in the process of preparing their home to be sold; but, they are doing upgrades
that are costly, not necessarily desirable by potential buyers, and negative
net returns.
Here are some things to think about for upgrades: energy efficient, low emission, tankless
water heater, “Next” type thermostats, kitchen upgrade, open floor plan,
hardwood flooring, new counter tops, “amped” appliances, and multiple charging
stations.
With continued Denver population growth and consumer demand
for home ownership, market frenzy can be expected for the next several months.
Seller preparation
includes a good pricing comparison analysis, instructions on staging, what are
the top improvements, introduction to a net sheet to understand the bottom
line, and a conversation on how the market functions. As such, the homeowner looking to sell a home
needs a professional who is a local expert, is hyper local market knowledgeable,
and can assist in the Professional plan to sell one’s home. Now is the time to reach out to The Simonson Team.
CALL DAVID AND KRISTA SIMONSON AT 303-229-6026 TODAY!
Advice to Buyers
What should you do if you are ready to buy? First and foremost, focus on your lifestyle
and must haves. Next, pre-qualify so you
know what portion of the market you can participate in. The current Buyer motivation relates to high
rents, low number of active homes for sale, and household formation. Last but not least, do it now.
The prime home selling and buying season is here. Be aware of moderate home price growth and
potential increase in mortgage interest rates.
Create your home buying plan and stick to it.
Know what you want in a home, where you want to live, and
what price range you can afford. Complete
the pre-qualification process so you know the price range that you qualify for when
you are purchasing a home. Be prepared, manage
your expectations, and be open to looking at the entire Denver market. Reach out to The Simonson Team today about your best
options and opportunities to participate and succeed in the purchase of your
“Dream” home.
CALL DAVID AND KRISTA SIMONSON AT 303-229-6026 TODAY!
Take this advice to heart and you can be successful where others fail! Don't ever think that something is impossible in real estate, especially in today's market. Stranger things have happened than what you may believe! Call us today so we can help you realize your dreams!
,David and Krista Simonson are here for you! 303-229-6026
