How's the Real Estate Market in the Denver Metro Area?
The inventory of homes available for sale remains low and buyer demand remains strong.
Overall, the Denver home market continues to have a two month plus supply of homes available for sale at the current sales rate.
In the $500,000 to $749,999 price range, 289 homes sold/closed in March, 2014 with an average sold price of $587,8885 resulting in a closed dollar volume of $169.9 Million.
Seventy Six homes sold/closed in March, 2014 in the $750,000 to $999,999 price range with a closed dollar volume of $64.2 Million.
Of the 123 Single Family homes sold year to date in the 1 million+ market, the highest priced closing for the year was $5.85 Million representing 8 bedrooms, 10 bathrooms, and 14,638 square feet.
What Does This Mean To You?
For Sellers: Home Buying/Selling Season has arrived! Currently there is a high demand for homes, while inventory remains low.
Currently homes in the Denver Metro Area are going under contract within mere days of being listed and closing about 45 days later. If you're looking to purchase a home as well as sell your current home, you may want to check out neighborhoods that you would like to move to before putting your home on the market.
Be sure to take an objective look at your home and check out your local market and see how your home compares to the competition. Remember that first impressions matter, so before you place your home on the market you may want to take care of any maintenance issues and declutter your space. Contacting a RE/MAX Professional is a great way to get a leg-up on the competition--we're here to help you!
For Buyers: Home Buying/Selling Season has arrived! You may have begun looking at homes online and started researching possible neighborhoods where you'd like to live. Now is the time to reach out to a RE/MAX Professional.
Completing the Pre-Qualification process is a great place to start--that will help you determine your price range and ensure that when you find your dream home you can act quickly. In this market, timing is everything! Talk to your RE/MAX Professional about what you're looking for in a home, including location and any lifestyle preferences. Your Professional will be able to help you discuss all the benefits of home ownership, what buying a home in 2014 entails , home affordability and homes that are currently available.
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