Denver Real Estate - Monthly Market Update – Nov. 2009

By
Real Estate Agent with The Bandy Team - EXP Realty

THIS REAL ESTATE SUMMARY WILL POSITION YOU TO MAKE THE BEST EDUCATED DECISION YOUR REAL REGARDING ESTATE FINANCIAL PLAN.

October was the first month to out-perform the previous years sold date in 3 YEARS with a 10.98% increase! There are a couple of very good reasons for this positive change in the Denver real estate market

1.  Last October the financial world was in major disarray and

2.  The First Time Home Buyers Tax Credit worked in 2009.  

 chart

  • November's single family home active listing inventory is down to 15,076, from 18,331 one year ago.
  • The number of active listings for condominiums is 4,685, down from 5,366 units last November.
  • The current 19,761 active single family and condominium units is the lowest November inventory in more than 5 years.
  • The number of sold properties from Sept to Oct 2009 increased by 4.01%, instead of the usual 3% reduction we see. 

What can Denver home buyers do today? 

  • Explore the NEW Tax Credit of $6,500 for existing homeowners to buy a    new primary residence before June 2010.
  • Consider a Multi Generational Model for buying a larger home,  meaning combine several generations in one family to buy jointly into the upper price range homes.
  • Become a prequalified buyer before looking.

 What can Denver home sellers do today? 

  • Know the supply vs demand numbers for your price range and area.

A 3 months' supply vs. a 3 years' supply will make a significant  difference in how you price and market the home.

  • Consider an "Owner Will Carry" scenario for homes with equity.
  • Offer a holiday special price reduction, like "10% off for Thanksgiving Weekend Only". 

Vital stats from RE/MAX Professionals 

  • RE/MAX Professionals has closed over $1.193 BILLION so far in 2009.
  • RE/MAX Professionals sold and closed 509 units in October 2009.
  • RE/MAX Professionals put 400 homes under contract in October 2009. 

AND, The Bandy Team continues to close more than 1 home a week! If you want success, choose a successful TEAM!  We can offer you the best real  estate choices in Castle Rock, Aurora, Cherry Creek, and the Denver metro area,  

Marianne Bandy

Great Schools Make Denver  a Winner

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Marianne Bandy

CRS, GRI, Certified Negotiation Expert
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