What are the Denver Housing Trends?
Hope this finds you staying healthy during this pandemic.
The July Denver Area Real Estate Update and market final figures for June shows listings down 28.5% (9,218) from June 2019. A lot of that is still the affects of the COVID-19 pandemic. But this lack of homes for sale (inventory of homes) is creating bidding wars again.
One of my clients had to bid $615,000 on a single family home listed at $550,000 to even get in back up position in case the primary contract falls.
Buyers put 10,627 homes Under Contract – a 23.4% increase from June 2019. So last month buyers put more homes (10,627) Under Contract than we had in inventory at the end of the month (9,218). WOW!
The Average Sold Price increased last month – $498,735 in June compared to $483,473 in May. Think about that for a second – the average sold price is almost half a million dollars.
In June 7,280 homes were sold/closed. The absorption rate has dropped again – if no other home came on the market it would take approximately 38 days to absorb/sell all the homes currently on the market (9,218). Anything under 6 months absorption rate is still a sellers’ market, so we’re still in a very strong sellers’ market.
That’s the July Denver Area Metro Real Estate Market Update.
Number of Homes for Sale in the Denver Metro Area in the last 4 years
PLUS: Whenever you are ready, here are some ways that I can help with your real estate goals:
1) Obtain my free handbook on “How to Sell Your Home for Top Dollar – Fast”
What you’ll learn from this handbook is going to give you a big advantage over your competition. It could literally be the difference between thousands of dollars in your pocket or thousands of dollars in your buyer’s pocket – Click Here
2) Obtain my free Home Prices Report on Your Specific Neighborhood
You’re thinking about selling your home, but you are not sure what the real estate market is doing. You don’t even know what the neighbors down the street sold their home for last month. You want to know what homes around you are selling for, but you’re really not ready to meet with a realtor yet.
Click Here for a Home Prices Report
3) Obtain my free handbook on “Room by Room Review”
One of the biggest stumbling blocks in deciding whether or not to move is deciding what needs to be done to transform your home from the way people live in a home to the way people want to showcase their home. This handbook steps you thru the different things you might want to consider in preparing your home for sale.
Click Here for a Room by Room Review Guide.
4) Watch my video on “A Real Estate Secret that gives Home Sellers Peace of Mind”
You might be thinking about selling your home, but what if your home sells before you find another home to buy? You don’t want to be homeless and you don’t want to move twice – once to a temporary home and then another move when you find your dream home (let’s be real – moving once is enough brain damage). I’ll tell you a secret that will give you peace of mind – Click here
5) Obtain an Up-To-Date Price Analysis report for your home
You’re thinking about selling your home and know what other homes around you are selling for. But, if you really want to know what YOUR home with its specific features, upgrades and condition would sell for, request an “Up-To-Date Price Analysis”. Just respond to this email and put “price analysis” in the subject line. [email protected]
6) Join me and some other friends for a monthly class on the benefits of a HECM (Home Equity Conversion Mortgage) for seniors – must be 62 or better to qualify for this type of mortgage
There are numerous benefits and different ways to utilize a government backed HECM mortgage. Learn how to use a HECM mortgage to Double Your Real Estate Buying Power; how to use it to Maximize Social Security Benefits; how it can help with Home Health Care; how to utilize it for a Line of Credit…Just respond to this email and put “tell me more” in the subject line to obtain more information. [email protected]
Also….check these out??
What if I told you that you could sell your home today and live in it for up to 59 days after closing? Maybe even rent free?
Would that solve one of your biggest concerns as a home seller and make the experience less stressful?
It could: 1) Drastically increase your chances of finding a replacement home;
2) Help prevent a double move (Yippee);
3) Increase your bottom line;
4) Give you greater peace of mind.
Because of our drastic lack of homes for sale in the #Denver metro area, buyers are always looking for an edge to get their offer accepted over the other offers.
So sometimes they are willing to offer you a Post Closing Occupancy Agreement. That’s the secret – a Post Closing Occupancy Agreement. Some buyers will even allow you to live there rent free for up to 59 days after closing.
Give me a call or send me a text to find out more about how this can work to make your home selling experience much less stressful. Vickie Hall, 303-944-1153