I am a Pradera Realtor selling homes in Parker Colorado and throughout south suburban Denver. That includes the Pradera Golf Club community . But, this may the craziest market I have ever seen.
We have lots of buyers for Pradera country club homes and throughout the Denver suburbs. Still, sales are off record highs for one reason and one reason only. We do not have enough homes on the real estate market to fulfill the home buyer demand. That right. It’s a total Seller Market in Pradera and thought the entire Denver area.
Hot Denver Real Estate Market
Let’s start with the Metro Denver real estate market as a whole. As we welcome in 2022, the real estate market has picked up right where it left off last year in terms of activity and trends. A number of monthly year-over-year indicators continue their previous trends for one single reason: shrinking inventory. A combination of four statistics says it all. The number of closings in December fell 12% from December 2020 (4,616 vs. 5,224).
Pradera Realtor explains the lengths buyers will go to just to win an offer to buy a home in this hot Denver real estate market
New listings coming on the market for the month were off 14% (2,604 vs. 3,017). As a result, homes going under contract slipped 4% (3,312 vs. 3,434) and supply of inventory fell 50% (one week vs. two weeks). Due to the limited inventory of previously owned homes, many homeowners looking to move are having to resort to options other than looking at re-sale homes: building new, moving to temporary housing, leaving the Denver Metro area or not moving at this time.
Two other monthly year-over-year statistics confirm the above trends. First, the average sales price for single-family homes rose an incredible 15% for December ($622,740 vs. $541,004). Second, the average days on the market for homes sold dropped 25% (18 days vs. 24 days). This compares to a decade ago, in the depth of the recession, when the average sales price was a mere $271,475 for single-family homes and average days on the market was 97 days – IF it sold at all !!! Surprisingly, one property which closed last December had been on the market a staggering 3,571 days or 9.5 years !!! Wow !!!
Pradera Real Estate In Parker, Colorado
Regarding Pradera real estate, with only one home presently on the market, it will be interesting to watch activity in the coming months and spring/summer sales seasons. During 2011, when Pradera had approximately 650 homes or 100 homes less than today, there would be 60-85 properties for sale at any point in time. What a complete reversal in the market. Thank goodness we are not at levels from a decade ago. However, keep in mind there are pros and cons to each and every real estate market. And, it is always a zero sum game between buyers and sellers.