Tuesday, October 14, 2014

The Stress & Stats on Trying to Sell Your Home Without a Realtor Like Me

The stress, the multiple-hat wearing, the contracts, the legal jargon, the marketing, the endless negotiations, the multiple party communication, the missed money...you get the picture. 

Denver Metro Real Estate Market Trends

These geeky kind of stats, averages, and trends are actually really important since they give us a good picture of what has happened recently, how it compares to where we were 1 year ago, and what it may say about what is to come. 

Market Insights:

  • Average sale price for single family homes was $361,307, down 2.36% from August and up 7.13% from September 2013
  • Median sale price for single family homes remained unchanged at $310,000 from the previous month, but up 10.27% year-over-year
  • Condo market showed an average sale price of $217,792, down 0.76% from August and up 7.34% from September 2013
  • Median sale price for condos was down 1.34% to $180,000, but showed a significant year-over-year increase of 13.71%
  • The current year-to-date sales volume for residential (single family and condo) was $13.271 billion which represents a 3.18% increase from 2013 and a sizeable 37.73% increase compared to 2012.
By the numbers, the inventory of available single family residences and condos for sale was 7,556 at September month end: 5,045 homes came onto the market, 4,622 homes were placed under contract, and 4,737 homes closed at a median sold price of $275,000 and an average sold price of $319,619 resulting in a closed dollar volume of $1.5 billion. 

Residential (Single Family plus Condo): 
Active Inventory: 7,556   -6.93% prior month   
Sold Homes: 4,737 -8.87% prior month
Average Price: $319,619-2.72% prior month
Median Sold Price: $275,000  -0.31% prior month
Average Days on Market: 33   10.00% prior month
Single Family: 
Active Inventory: 6,155   7.00% prior month
Sold Homes: 3,361  -10.75% prior month
Average Price: $361,307  -2.36% prior month
Median Sold Price: $310,000    0.00% prior month
Average Days on Market: 36   12.50%  prior month

Active Inventory: 1,401    -6.66% prior month
Sold Homes: 1,376 -3.91% prior month
Average Price: $217,792 -0.76% prior month
Median Sold Price: $180,000  -1.34% prior month 
Average Days on Market: 28 16.67% prior month