Broomfield Home Buyers Markets
Did you know that only a few Broomfield communities are currently experiencing a "buyer's market "? With that said, read on. The year end residential statistics for 2008 have shown that the Broadlands, Country Estates, Crofton Park and Aspen Creek were buyer's markets at the end of 2008. Absorption rates were over 7.0. What does this mean? Statistic show us that, on average, it took 7.0 or more months to sell a home in those areas.
Broadlands and Crofton Park averaged over 8 months for a home to sell, Country Estates 11 months and Aspen Creek over 11 months. This could be based on numerous variables. Listing too high to begin with, more competition and fewer buyers, financial crisis, and basic economic turn down to name a few. Sure, these issues are very concerning, however, do not worry. These homes are all located in very popular and desirable Broomfield neighborhoods. Sellers, the simple solution is to price your house at market value based on its condition and location.
Balanced markets are those communities that are neither a buyers market or a sellers market. Wildgrass, Willow Run and Anthem showed signs of a balanced market. Each averaged 5.0-6.9 months to sell. This is very favorable place to be as a seller and a comfortable location to purchase as a buyer.
Broomfield Home Sellers Markets
Broomfield overall is a Seller's market. Out of 33 neighborhoods I reviewed, 21 communities are home sellers markets . The average Broomfield Home for sale takes 4.5 months to sell with 55 homes selling per month on average. This is good news for sellers and for buyers. Yes, sellers and buyers, this is a strong indicator that Broomfield homes are holding their value.
Knowing the market, absorption rates, real estate trends and area will help you in making a strong, knowledgeable decision when you are buying or selling a home . Know this valuable information in your market or call an expert real estate professional to help you.