Tag Archives: Denver Real Estate

Denver Market Update May 2014

Homes for sale, average sale price for Denver homes and condos, average days on the market, absorption rate and total number of combined sales.

Denver Sales Statistics

May 2014

Metro Denver Prices:

Single Family Average Price: May 2014 – $371,611
(Detached Dwelling) Apr 2014 - $361,098
Ma7 2013 - $334,927
Condo Average Price May 2014 - $230,157
Apr 2014 - $225,305
May. 2013 – $202,543
Combined Average Price May 2014 – $333,478
Apr 2014 - $327,618
Ma7 2013 – $308,537
Percent of Sales Price Change: (from May 2013 to May. 2014)

Single Family +10.67%
Condo +15.88%
Average +8.08%
Total Combined Number of Homes for Sale May 2014 - 5,370
Apr. 2014 – 7,854
May 2013 - 8,214
Percent of Change in Available Inventory:
(May. 2013 vs May 2014)
+10.15%
Number of Combined Homes Sold this Month May 2014 – 5,370
vs. the previous month Apr. 2014 – 4,729
vs. the same month last year: May 2013 – 5,884
Average days on Market – May. 2014 vs May 2013 May 2014 – 31.86
(combined sales) Apr. 2014 – 41.20
May 2013 – 48.40
Absorption Rate: May 2014 – 6.75 weeks
(number of weeks necessary to sell current Apr. 2014 – 7.50 weeks
combined inventory at current rate of sales) May 2013 – 6.28 weeks

Prepared byLarry D. McGee, CRS, CRB The Berkshire Group
From data provided by Metro List, Inc., does not include private or builder sales.

NE Suburban Denver Real Estate Report ~ May 2014

Buying or selling a home? Call Kristal Kraft, Denver Realtor 303-589-2022

Neighborhoods in this Northeast Suburban Area of the Denver Region include, (but are not limited to):

Brighton

Commerce City

Henderson

Northeast Aurora

NE Metro Denver Real Estate Report May 2014

Northeast Suburban Denver continues to offer the lowest average home price of all the Metro areas.  Here one can find a new or newer home in the mid-$200′s.  Still inventory is diminishing with some of the lowest average “weeks of inventory” in the area.

Weeks of Inventory is just a gauge of how long it would take to sell the existing number of homes based on the numbers of homes for sale at the current time.  It does not take into account new homes that come on the market.  As a gauge of the market we can tell how competitive it is for sellers and how long it will take for them to receive and offer on their home.  Right now Sellers have the upper hand.  It is a strong sellers  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 303-589-2022 I welcome your call.

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

Based on information from Metrolist, Inc. for the period of May 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.

The Economic Impact of Selling a House

EconomicImpact-DenverRealEstate-KristalKraft

When a home gets sold the impact goes far beyond the buyer and the seller.  The local economy is stimulated by the sale.  A few of those who are impacted are:

  • Home Builders and/or General Contractors
  • Real Estate Brokerages
  • Mortgage Lending
  • Title Insurance
  • Rental and leasing
  • Home appraisers
  • Moving companies/rental truck agencies
  • Home inspectors
  • Home stagers

Home ownership provides stability for the country.  Locally the economy is impacted at macro level, where local business people can continue to operate their businesses, pay for their kid’s soccer/swim/dance lessons, buy groceries, pay their mortgage, take vacations and contribute to their own neighborhoods.

Homeowners create financial security by paying their mortgage and over time developing equity in a home rather than renting and creating equity for a landlord.

How does Colorado rank ?

In Colorado the impact of a home sale is $67,000, well above the country’s average of $52,205.  Why?  I like to think it’s because people love living in Colorado as much as I do.

I know, it’s hard to be humble when you live at the foot of the Rocky Mountains.

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!

Selling Your Home? Don’t Make These Mistakes!

Spring time is approaching and many Metro Denver home owners are planning to sell in 2014.

Selling a home takes planning and preparation as you don’t live in a home the same way you sell it.  Any seller who has tried to do so will probably tell you the best thing to do is spend time making the home look fabulous BEFORE you put it on the market.

As an agent, I know for fact the more time a home owner spends sprucing up the home the less time it spends on the market.  This fact translates into a huge convenience factor, as few home owners appreciate having to vacate their home every time it gets shown.

Showing Availability

When an agent wants to come by with clients to see your home, don’t play “let’s make a deal” with the showing time.  Your house is on the market for sale. The agent and their clients typically have a list of homes to see and if you make it inconvenient for them to see your home during that time allotment, chances are they won’t even look at it!

Repairs are part of Home Maintenance

Repairs of safety and health issues are repairs you need to make immediately.  Leaky faucets, dirty chimneys, locks that don’t work with ease are all things you are going to need to fix.  Why not have your home pre-inspected by a professional?  By doing this you place your home above all the competition, making it even more attractive to a buyer.  Having a home in good repair reflects very well on you and gives the buyer the confidence he’s not buying a “problem money pit.”

Over Priced

Pricing is so sensitive these days.  Making the mistake of pricing you home out of the market is not advised.  The longer your home stays on the market the more “shop worn” it will get.  Your agent will need to respond to inquiries like, “why has it been on the market so long?”  Buyers think there must be something wrong with it when it doesn’t sell in a normal amount of time.  The longer it stays on the market the more likely an even bigger price reduction will be needed.  Price it within the market or slightly, and I do mean slightly higher and you will sell quicker and for more money!

Unwilling to Negotiate

Negotiation is not always about price.  Often a good negotiation is when both parties get what they want.  That may be a lesser price or it could be a bigger convenience.  No two negotiations are the same so keep an open mind when negotiations start, have a  Plan B and C incase Plan A doesn’t work out.

Unpleasant Odors

Simply put, “if you can smell it, you can’t sell it.”  If your house can’t pass the smell test you need to do something quickly.  Smoke? Stop.  Carpet dirty? Have it professionally cleaned.  Pet odors? Not everyone enjoys the smell of a wet dog, Keep Fido or Puffy elsewhere for awhile.  There are companies that specialize in removing odors.  Hiring one might be the best decision for your sale.

Successful Sale

A successful home sale begins long before the home goes on the market.  I begin with a consultation and then I bring in the stager.  She helps my home owners see their homes through the eyes of the potential buyer.  Her staging advice and my marketing strategy help educate the home owner and set them up for having a good experience during the sale of their home.

 

Data provided by ActiveRain.com.
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