Denver Market Update

Are We There Yet?

Preparing to list your home for sale requires a significant amount of effort. Decluttering, cleaning, staging, getting around to the home maintenance projects you’ve put off for the past year or two; before the sign goes in the yard and your property goes live on MLS, you’ve already worked hard to sell your home – and you haven’t opened the door to a single potential buyer yet. 

No wonder one of the first questions sellers ask, and the one they keep on asking until they walk away from the closing table, is, “How long is this going to take?” Selling your home means you probably have big plans, and it’s nice to have a timeline. 

In this week’s Market Update

We’d like to share some good news – hot off the presses! 

According to RE Colorado statistics for December 2015, the *average total days on market in December for Metro Denver is down 26% year-to-date from the same period last year. The wait isn’t over – but for most sellers, it’s getting shorter

Average Total Days on Market

A little perspective on that number: In 2013 the year-to-date average wait time for an acceptable offer was 48 days. Forty eight days of wondering, waiting and putting life on hold until you move on to the next big thing. The year-to-date average wait time for 2015 was just 26 days; that’s less than a month from the day the sign goes in the yard to the moment the ink dries on most contracts! What would you do with an extra 22 days to plan your life, make your next move and get your ducks in a row? Every one of those 22 days is a gift for homeowners ready to move on and take the check to the bank. 

During this same time period, the median sold price (YTD) has increased from $254k in 2013 to $310k in 2015. For sellers enjoying a commission free transaction with TRELORA, this translates into even more equity landing right where it belongs at the closing table – in their own pocket. 

Median Sold Price

*Total days on market = Days between the list date and under contract date (Sold listings only).