We sure live in interesting times. It’s hard to predict how the National Coronavirus Emergency will affect real estate, but the NRA predicts there will be fewer sellers putting their homes on the market because they don’t want a lot of people walking thru their homes. I also predict there will be fewer buyers that want to walk thru strangers’ homes.
The March Denver Area Real Estate Update and market final figures for February shows 16.6% FEWER homes were for sale (6,897) this February vs February of 2019.
The Average Sold Price is up a lot from last month – from $469,052 to $479,785. The Average Days on the Market is down some – 42 days instead of 48 days last month.
So prices are up and homes are staying on the market shorter time periods. Still a seller’s market.
In February 4,491 homes were sold. The absorption rate is higher than it’s been in quite a few years – if no other homes came on the market it would take less than 2 months to absorb/sell all the homes currently on the market (6,897). For quite awhile we were down to less than a month absorption rate.
So the market is becoming a little more favorable to buyers than it has been for a couple years.
That’s the March Denver Area Real Estate Update.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour – Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm – choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – [email protected]
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.
Also….check these out??