Even with the big snows lately, sellers continue to enjoy a strong seller’s market, and buyers face increased competition as we move on into spring.
All stats below are based on End of Month in January vs February:
Homes on the market – 2,439 vs 2,194 (down 10%)
Median days on the market – 6 vs 5 (down 17%, average days 25 vs 23, down 8%)
New homes on the market – 4,084 vs 4,363 (up 7%)
Homes sold – 3,069 vs 3,775 (up 23%)
Inventory in the 10-County Denver Metro fell for the 10th straight month in February. The percentage of homes that had been on the market for 30+ days and 60+ days dropped even further to 40% and 27% respectively, meaning there are fewer stale listings for buyers and their agents to sift through. Home sale volume increased by about 23% from January and the median sales price jumped way up to $471,000.
About 79% of homes are going under contract within 14 days of hitting the market, so it is more important than ever to make sure you’re listing your home at the right price. Most sellers can expect to have multiple offers to choose from after just one weekend of being on the market. Don’t wait until the weather gets nice this spring to sell your home. List your home now to cash in on this historic seller’s market!
Here are a few blogs that might help you as a seller:
Buyers and their agents are having to get extremely aggressive and creative in order to get homes under contract. We have had success reaching out to the agents of expired, withdrawn, and coming soon listings. We’ve also had success in reaching out to sellers who are selling their homes for sale by owner. Homes in these categories typically have less of a feeding frenzy because they aren’t on the radar of most buyers and their agents.
Here are a few blogs that might help you as a buyer:
Please note, if you buy with us, we split our buyer’s agent commission with you and give you back up to $6,000, and if you sell with us, we give you comprehensive, expert service for a low flat fee. And keep in mind, especially if you’re moving or you have friends in other states, that Trelora can help you in Atlanta, Charleston, Charlotte, Denver, Phoenix, Raleigh, Seattle, St. Louis and Tucson. In the meantime, please stay healthy and safe.
Trelora – Denver