Denver Metro Real Estate Market Trend Summary
I am now teaching Denver real estate market trends classes on a regular basis. Your Castle Real Estate, my managing broker, sponsors the classes. Your Castle produced a custom software package to analyze market data from Metrolist. The information is then formatted and presented in the trends class presentation where agents can earn 2 CE credits for attending.
In yesterday’s class, there was a lot of emphasis and discussion about the market activity by price point. For anyone working with investors or with buyers seeking to purchase homes priced under $150K, it’s no secret that properties are few and far between. In fact, anything priced below $85k is usually gone within a day or two with sellers consistently calling for highest and best. There is less than one month’s inventory in that price segment. Based on my experience and the feedback of the group prices are frequently bid up above the asking price.
At the other end of the spectrum it is a completely different story. For homes priced above $460 there is about 20 months of inventory and prices are falling. The middle range just above and below the median price range has about 4 months of inventory—closer to 3 months on the low part of the segment and closer to 5 on the higher part of the segment.
As an example of how this information can help both buyers and sellers make informed decisions, properties on the low end going quickly so buyers need to act fast. They should expect to pay list price or higher. In the middle range, both buyers and sellers can expect activity to hold steady around the market value. Again, the lower priced homes are going faster and with fewer discounts than the higher priced homes.
In the upper price segments, there is a glut of excess inventory that is driving prices down and days on market up. There are signs that prices are still falling in this segment so sellers that need to sell should consider all reasonable offers or risk selling for less tomorrow.
Trade-up buyers are in luck, especially those with home in the lower price segments. Their existing homes will likely sell fast at or near market price without too much compromise. They can then leverage that money to buy into the higher price range where there are lots of bargains to be had with plenty of room for negotiation.
Please contact me if you would like to know more about Denver Real Estate Market Trends. I am teaching classes for both industry professionals and consumers. I would be happy to send you a schedule of upcoming classes.
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John Thomas MSEE, MBA
(m) 720-771-5594 (e) john.thomas@e3greenhomes.com


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