Real Estate Market Reports for May 2007
South Suburban Central - STATISTICS FOR HOME SALES IN THE AREA
This report includes all areas of the MLS known as SSC : parts of Littleton, parts of Centennial , western parts of Greenwood Village and parts of Englewood.
Residential - Single Family Homes
ACTIVE LISTINGS
- Total Active: 591
- Average Price: $512,330
- New Listings: 390
SOLD LISTINGS
- Total Sold: 173
- Average Price of Sold: $362,590
- Sold at % of List Price: 97%
- Average Days on Market (DOM): 93
OFF MARKET
- Under Contract: 207
- Expired: 16
- Withdrawn/Other: 224
Residential Condos/Town Homes
ACTIVE LISTINGS
- Total Active: 261
- Average Price: $209,449
- New Listings: 65
SOLD LISTINGS
- Total Sold: 48
- Average Price of Sold: $184,286
- Sold at % of List Price: 99%
- Average Days on Market (DOM): 77
OFF MARKET
- Under Contract: 47
- Expired: 7
- Withdrawn/Other: 63
So what does all this mean?
There is roughly 3 months supply of homes in the residential market and roughly 5.5 months supply of condo/townhomes. It is critical to price homes in this market correctly. If you over-price your house, it will sit - sometimes for quite some time. Many studies show that homes that are over-priced and go stale wind up selling for less than they would have if they were priced right to beign with. Make sure you discuss price with your agent in detail.
*Statistics from MLS deemed accurate but not guaranteed.
*These numbers may not include FSBO and New Construction.
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