How is the Denver Housing Market 2013?
Here are the facts about the 2013 housing market ... Inventory is at its lowest point since 1985. Yes, its been nearly three decades since there has been so few homes on the market.
The close of February marked the eighth consecutive monthly decrease in available homes. Last month, just 6,786 homes were available, a 33-percent plunge from February 2012 inventory levels. Home prices, however, have not only increased 11 percent from a year ago, but have remained steady with gradual increases throughout the typically slower winter months.
As a Real Estate company we are doing everything we can at this point to try and drum up inventory for our buyers. We are really in a situation where there is a huge demand and homes for sale are needed in Denver!
The average sale price this February was $276,596, up 1 percent from January during anticipated seasonal slows. We’ve noticed a continual increase in average sale prices, and I expect that trend to continue throughout the summer buying season. Denver’s current housing market could be summed up by a basic economic principal—it’s supply and demand.
Given the current inventory situation and the upcoming National Open House Weekend April 20th -21st, new listings will be at a premium. All new offerings will be listed at www.perfecthouseforyou, so buyers and sellers can enter the market more prepared for this critical selling season.
So, if you or someone you know may be considering a move and need to sell a home, now may be the best situation as a seller that you could ask for in a very long time. And, with the National Open House day, we could showcase your home.
Mortgage rates remain extremely low, and buyers are out to buy right now. This does not mean that you should think of asking too high of a price for the neighborhood or not bother getting the home in shape to show. Preparation will still pay dividends.
If you want to sell your Denver area home, there might not be a better time to do it. With the right pricing strategy, a home that is in good condition, with an aggressive marketing plan can be sold quickly. The economy is improving and confidence is rising rapidly. The Denver real estate market made the shift a long time ago and as we move along the inventory will increase and balance out. This will be a good and healthy market. But right now, it is to the seller’s advantage. Take advantage of this market timing and sell while the market is hot!
If you have concerns about finding a replacement home or questions about a solid marketing plan then please call us. We can talk about all these things and come up with a plan that is right for you. We would love to help!
Whether you're looking to sell today or are thinking of selling tomorrow, please feel free to call or visit http://www.homevaluecolorado.com or ask for an analysis of our recent market activity. We would be more than happy answer any questions you might have.
