It is that time of year that listing agents are seeing more homes for sale on the market than that past few months. It is a slow increase across all price points including luxury real estate markets. Realtors were hoping to see a large uptick in inntory or pre existing home sales. Although even the best real estate agents will tell you any increase in homes on the market will help with bringing more buyers back to the game, agents in the area will take whatever they can get.
Currently in the Denver Foothills including Evergreen, Conifer, Bailey, Morrison and Golden there are just over 300 active listings. Evergreen has about 107, Conifer has about 20, Morrison has 36, Bailey with 29 and Golden 101 active listings. It seems like low numbers and it still is. Luckily we are coming up on about 5 years since we began to boom and NAR stats show about 5 years is the average amount of time people own their homes before selling again. Yes 5 years, the days of buying a home, raising your kids and retiring in that home is over. People are moving a lot and since many homeowners have seen a huge gain in equity over the last 5 years we will most likely see many homeowners cash in on that equity very soon.
The avergage home value and sale numbers continue to increase across all of Colorado and only a few areas are seeing leveling off and some a small decrease. The average value across the entire MLS is still steady just over $500K. If you break it down by area we see the Denver Foothills just over $600K for and average home sale value. A considerable number in comparison to the rest of the the Denver market.
Buyers are still very active and are still making transactions happen. Sellers are seeing less showings and less multople offers. That will most likely change in the spring months when sellers will try to control the market once again. It is hard to say what direction the market will head. After such a huge increase in prices the market may see a slight contraction. There a have enough sales in recent years to show the market value should hold unless another national real estate crisis hits the market like 2008.
The time to list your home is now. If you would like to discuss the real estate market more with the best real estate agents in Denver and the Denver Foothills please contact Orson Hill Realty at 303-835-9895 and we would be happy to provide a free market analysis of your home. Please don't trust ZIllow Zestimates to tell you what your biggest investment is worth. Only a real estate agent that knows the market can tell you the value of your home.