Author Archives: Kristal Kraft Denver Realtor

A Comparison of Denver Real Estate vs. National Inventory

OK so this week I’ve been raging on and on about the lack of housing inventory in the Metro Denver Real Estate Market.  Sorry, but the fact remains we are selling more homes than we are listing!

Across the Nation there is an inventory shortage, but Denver’s shortage is even more severe.

Interesting comparison!

Market Watch Metro Denver

This past weekend I worked with 4 separate buyers.  Sounds exhausting?  Well it was, but not how you would think.

Typically when working with a buyer you set appointments, probably 5-7 on homes that might fit their budget and other criteria.  Well those days are past.  Now we are lucky to see that many homes in one outing.  The most homes I showed to one buyer this weekend was 4!  That’s because that’s all there were!

Buyers are Soaking up the Housing Inventory!

What’s happening in the Denver market?  We have a shortage in inventory and an abundance of buyers.  Our inventory is getting soaked up by anxious buyers wanting to become home owners before the interest rates go up.

Take a look at the 7-day stats for these Metro Denver Counties, look at the number of listings taken vs. the number of Under Contract.  That should explain why finding homes to look at is so difficult right now.

Sales Activity in Metro Denver Counties over the last 7-Days

MarketWatch-Denver

City and County of Denver

Jefferson County

Jefferson County

Elbert County

Elbert County

Broomfield County

Broomfield County

MarketWatch-Arapahoe County

Arapahoe County

Adams County

Adams County

 What Does This Mean for Buyers?

If you are in the market to purchase a home, you will need to be ready.  Many homes are receiving multiple bids that means buyers who are qualified to buy and can prove it will win the bid.  Bidding wars can be brutal but have become a fact of life in the Denver real estate market, so be ready to bid over list price.  If you are a buyer who has a contingency ( a house to sell) sell your home and remove that contingency.  The reality is, the home owner is going to pick the BEST bidder from all the offers. The best may or may not be the highest net to them.  Sellers want to be assured their home will sell, so they look at many factors, including the buyer’s ability to sell, contingencies and net proceeds.

What Does This Mean for Sellers?

After many years of getting beaten up sellers are finally in the driver’s seat when it comes to negotiation.  Sellers are enjoying the luxury of very few days on market, multiple offers, over list price offers and quick closings.

Still sellers need to beware that many buyers will over bid your home knowing it won’t appraise.  If the buyer doesn’t have the means to pay the difference you won’t be enjoying that extra cash from the sale of your home.  If this is the case be sure your buyer has the ability and is WILLING to pay the difference. If they aren’t able and not willing their offer is just a cloud of wishful dust.  All you will have to show from this contract is wasted time!

What Does the Future Hold?

At this rate I am wondering if in April we will reach a point where there are ZERO listings to sell?  Is it possible?  I certainly hope not.

What do you think? Will we run out of properties to sell or will sellers decide to get into the market?

By the way out of my 4 buyers I found homes and went under contract for two of them.  The other two are still in the market.  We will continue our search!

Call direct 720-279-4599

NW Suburban Denver Real Estate Sales Report

Northwest Suburban Metro Denver Real Estate Market Report ~ January 2014

Real Estate Sales in the NW Suburban Denver area begin the year at a brisk pace.  Only one zip code in the 20007 (western Arvada area) is lagging just under the Seller’s or Extreme Seller’s Market indicator.  This zip has a higher ratio of listings to sold homes with 69 days on the market for the homes that do sell.

Nine out of the total 15 zip codes in this area are considered to be in an “Extreme Seller’s Market.”  What does this mean to buyers? Homes are selling quickly and often to the bidder with the highest and best bid.  It’s not a time to play “let’s make a deal!”  If you are buyer for this market, do your homework first or chance disappointment when you don’t win the bidding war.

 

Call Kristal Kraft, Denver Realtor 303-589-2022

Northeast Metro Denver Region Zip Code Market Report

Neighborhoods in this area include (but are not limited to):

Broomfield

Lafayette

Louisville

Arvada

Golden

Westminster

NW Denver Real Estate Report

NW Suburban Home Sale Report ~ Denver ~ January 2014

NE Metro Denver Real Estate Extreme Seller's market

Follow the links on each city to discover more about the neighborhoods and to search for homes on my complimentary MLS-IDX.

Questions about your neighborhood? Need more specific data on your home for either purchase or to sell? Feel free to call for more in depth reporting. Kristal Kraft 720-279-4599 I welcome your call.

Contact me for information about Metro Denver Real Estate Request an Up-to-Date Market Report for your Metro Denver Neighborhood.

Based on information from Metrolist, Inc. for the period of January 2014. NOTE: this representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist may not reflect all real estate activity in the market content.

SE Region Metro Denver Real Estate Market Report

Southeast Region Metro Denver Real Estate Market Report ~ January 2014

The SE Metro Denver Region has the most inventory of all five regions and the highest average price.  The “average days on market” to sell is among the least!  Out of the 18 zip codes in this region only two are not in the “seller’s market/extreme seller’s market” category.

Zip codes 80109 and 80125 are both areas with average sale prices above $500,000 and located in more rural areas.  Sedalia and Castle Rock have a considerable amount of new construction with new home inventory.  Buyers looking in these areas have a stronger chance of negotiating on price with the seller’s than they do further north in the region.

In January 41% of the listings taken were sold. That is a very strong market for this desirable area.

Looking to buy or sell a  home call Kristal at 303-589-2022

SE Metro Denver Region Real Estate Report by Zip Code

Neighborhoods in the area include (but are not limited to):

Englewood

Littleton

Greenwood Village or Denver Tech Center (DTC)

Cherry Hills Village

Southeast Aurora

Parker

Highlands Ranch

Sedalia

Castle Rock

Real estate report SE Suburban Denver, January 2014 home sales, sellers market, buyers market, extreme

Southeast Region Metro Denver Real Estate Home Sale Report – January 2014

NE Metro Denver Real Estate Extreme Seller's market

Questions about your neighborhood? Need more specific data on your home for either purchase or to sell? Feel free to call for more in depth reporting. Kristal Kraft 720-279-4599 I welcome your call.

Request an Up-to-Date Market Report for your Metro Denver Neighborhood.

Based on information from Metrolist, Inc. for the period of January 2014. NOTE: this representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist may not reflect all real estate activity in the market content.

SW Suburban Denver Real Estate Market Report – January 2014

SW Metro Denver Region Real Estate Home Sale Report – January 2014

Out of 13 zip codes only 5 are not considered an “extreme seller’s market!”.  Those 5 zips are merely a “seller’s market!”  This is great news considering how long sellers have waited for their home values to increase!  Equity is on the rise this year, but only as long as the interest rates remain low.  When interest rate increase then prices will decrease or stay flat.

Buyers in this market are anxious to join the Home Ownership Club before they are priced out of the market.  Wise buyers are taking care to get pre-qualified with a reputable lender first before they jump into the home search.

Southwest Metro Denver Region Zip Codes

 

SW Suburban Denver Home Sale Statistics - Jan 2014

Southwest Suburban Denver Real Estate Market Report ~ January 2014

NE Metro Denver Real Estate Extreme Seller's market Questions about your neighborhood? Need more specific data on your home for either purchase or to sell? Feel free to call for more in depth reporting. Kristal Kraft 720-279-4599 I welcome your call.

Contact me for information about Metro Denver Real Estate Request an Up-to-Date Market Report for your Metro Denver Neighborhood.

Based on information from Metrolist, Inc. for the period of January 2014. NOTE: this representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist may not reflect all real estate activity in the market content.