When people first think about relocating to Denver from out of state, the really don’t understand how strong some segments of the Denver real estate market really are. I’ve been selling Denver real estate since the 1970’s. So, I have a history when I say that the Denver Real Estate Market is very strong! It’s fabulous for sellers. Prices are at historic highs. It’s difficult for buyers but not impossible with good, professional help.
Denver Home Sales
Here are three examples of Listings my Daughter/Partner, Dawn Martin, and I have sold recently:
18221 E. Montana Pl priced $200,000 sold for $200,000 under contract 24 hours.
10339 Royal Eagle St Priced $474,500 sold for $473,500 under contract 14 days.
2395 S. Loveland Way Priced $650,000 sold for $636,500 under contract in 12 days.
There are many examples of listings selling in days or hours, many with multiple offers. The reason I am writing this blog is to give you moving to Denver an understanding of the market. It is anything but normal. I call it the “new normal” which means nothing is “normal!”
Denver Relocation Family
We recently had a relocation family moving to Denver from out of state. They sent us 12 properties, they wanted to view. They sent us the properties on Monday for viewing on Friday. The price range was $300,000 to $350,000 eight of the properties went under contract before Friday. That left 4 properties to show and no new properties came on the market during the week. This is very common what is happening with listings. If you have been on the web site looking for properties, you know the good listings sell very quickly.
If a property is priced right in good condition and good location it is sold in days if not hours.
Denver MLS Statistics
Here are some statistics from our multiple listing service from the past 3 years single family homes from October 2011 to October 2014.
Active Listings October
That is a 49.2% decrease in homes on the market in just 3 years.
Total Days on Market October
100 Days 31 Days
That is a 69% decrease in number of days a listing is active
Average Sold Price October
That is a 33% increase in sale price over the last 3 years.
This is the reason you need a good, experienced and aggressive agent working all avenues to find you the home and neighborhood you will be excited, happy and enjoy. We have a system that notify us when homes come on the market for clients we are working with. You will be the first to know when homes that meet your needs when they become available. You need to make contact with us today so we can start researching homes for you today.
It is not going to change in the near future. Today we have low inventory, prices are increasing and low interest rates. This is the time to start your search. I do not see any major changes in the future.