As the saying goes, "In like a lion, out like a lamb." This past February was one of the snowiest one's on record, yet agents put more homes on the market, up 5.56 percent from the prior month. There was a 7.08 percent shift of more homes being placed in a pending status and we closed 3.16 percent more deals than in January.
February is the month of love, but not everything was rosy. There were 4,835 homes for sale in the entire 11-county metro area at the end of February and that's 106 fewer active listings than the end of January. New listings are moved into pending status quickly and the there was more talk of multiple-offer situations than were occurring just a few months ago. Fewer homes to choose from pushes prices up in communities that already have affordability issues so now is the time to get your home listed and on the market and we're here to help with that!
The low months of inventory means that sellers are in the power seat in all price segments, except for homes in the luxury market. Homes priced above $1 million had higher months of inventory indicating that buyers may have more power in the negotiations in some areas.
Despite some struggles with the stock market, real estate stayed strong. The median days on market dropped 55.56 percent to 12 days in February from 27 in January. The average closed price of a detached home came in at $544,054 and that's up 2.51 percent month-over-month and 6.11 percent year to date. Some people that are heavily invested in the stock market are shifting funds into real estate , considering it a more stable investment, especially with interest rates at near record lows.
Now is the time to list your home or buy a home and a perfect time to give us a call to come up with the strategy to get you what you want!
Average Single Family Home Price: $544,054
Average Condo Price: $368,936
Total Number of Properties for Sale: 4,835
Average Days on Market: 39
Denver St. Patrick's Day Parade
Come down to see colorful floats and listen to fantastic music all while surrounded by Irish good cheer at the 58th annual Denver St. Patrick's Day Parade! The admission is free and this event is always a good time!
Mar. 14 - 9:30am - More Info
2020 Mile High Beer Fest
The legendary, always local, always sold out Mile High Beer Fest returns in 2020! Join them in their new downtown venue, The McNichols Building, as we sample the best craft beers in the great state of Colorado.
Mar. 21 - 1:00pm - 9:00pm - More Info
Ohm Yoga Festival
Zen out and enjoy a yoga festival filled with classes, workshops, mindful vendors, food and yogi crafts! A Yoga celebration everyone can enjoy!
Mar. 22 - 9:00am - 3:00pm - More Info
Earl Klugh's Weekend of Jazz
Spoil yourself with a unique, intimate, musically driven luxury-lifestyle getaway. Jazz enthusiasts will be provided with world-class talent, incredible live musical moments, exceptional wine, cuisine and service, fitness and wellness experiences and more - all taking place amid the splendor of the Broadmoor Resort.
Mar. 26 - Mar. 28 - More Info
Amazing Scavenger Hunt Adventure
Turn Denver into a giant board game with this fun scavenger hunt adventure. Combine the excitement of the Amazing Race with a three hour city tour. Guided from any smart phone, teams make their way among popular and overlooked gems of the city, solving clues and completing challenges while learning history.
Mar. 31 9:00am - 8:00pm - More InfoWant to know what your home is worth?
Let me run an RPR Report for you. I have access to a system used by Appraisers and Lenders to get a semi-accurate estimate on your home value. Respond to this email with your property address and I'll be happy to put a report together for you.