Barry Kunselman | 303.887.0588 | Contact Barry
DENVER HOME SALES
Denver home sales usually experience a seasonal slide hitting the lowest number of both new listings and the number of homes sold in December or January. November closed sales were down 22.78 percent month over month, but sales were still up year to date. The number of homes that went under contract dropped 10.84 percent month over month, which indicates the number of sold homes will likely be down next month, too.
HOME PRICE & DAYS ON MARKET
The average days on market and the average sold price both increased. The average days on market was 35, up just one day from the prior month. Year to date the average was 31 days, which was 24 percent longer compared to last year. This is what both buyers and sellers need to know. While homes may be on the market longer and the close-to-list-price ratio was down to 98.80 percent month over month in November and down year to date to 99.23 percent, this is still not a market for low-ball offers.
While the numbers listed above represent the market, it may feel differently depending on which part of the city you are in. I'd be happy to compile the neighborhoods you're interested in learning about and email the numbers to you. Accompanying the statistics for each specific neighborhood is a detailed description of the area so you can see if that neighborhood sounds right for you. Let me know which neighborhoods you'd like and I'll gladly send them to you right away.
WHAT CAN WE EXPECT IN DECEMBER?
The answer to that may be swayed by our weather in December. More storms and very cold temperatures will slow things down as usually happens at this time of year.
It's a certainty that while buyers will be out doing holiday shopping they will also be out house shopping. Buyers will enjoy some of the least competitive weeks to make a purchase during the holiday weekends which increases their negotiating power. Mortgage rates are still hovering near all-time lows. Low-interest rates allow a buyer to maximize their purchase potential and ultimately make the cost of homeownership more affordable. It helps investors to maintain lower costs and better potential cash flow.
Is it a good time to sell?
Low inventory keeps Denver in a strong seller's market. This is a good time of year to sell because buyers remain hungry for inventory and the dream of homeownership is on many people's wish list this December. If you're not up for putting your home on the market over the holidays, use your extra time off to get your home ready to hit the market at the beginning of 2020.
GET IN TOUCH
It's my job to help you and all of my clients make smart housing decisions. The stats are a phenomenal indicator of the market, but they're just the start. I'm happy to share my expertise to tell you the stories behind the numbers.
If you need to discuss the numbers above please don't hesitate to call/text 303.887.0588 or email me at email@example.com!
YOU MIGHT BE INTERESTED IN...