I hear plenty of stats from the Media with information on the US, NC, but certainly nothing specifically on the Denver Area.
Century 21 Hecht Realty Inc has the Majority of the Market Share of Closed Transaction in Denver at 17.5% and has led the Denver Market every Month of 2008.
For MLS Areas 13/4 (Denver) & 14/2 (East Lincoln Cty), Inventory is up 7%, while sales are down 51% year over year.
Breaking this information down into price ranges, $250,000 and under is steady and has been a good price range for home sales regardless of what is going on in the economy or media. $250,000 to $500,000 is down 75% year over year. $500,000 and Up is down 17%. The reason for such a small drop in the upper price ranges is due to significant drops over a longer period of time that have already transpired.
Homes are still selling but the use of a Qualified Real Estate Agent and Firm become an absolute necessity. Along with Competitive Pricing and a Perfectly Staged Home are Simply a must.
If selling is not a necessity and you, as the seller, are not completely committed towards selling the home – SELLING NOW is not the time for you.
With complete commitment from all sides, homes are selling. You may not make as much off the sale of your home, but you will find a big savings on your new home purchase plus a low mortgage interest rate.
If you are a first time home buyer or have not made a home sale in the last two years, you will also be able to cash in on the $7500 tax credit and the low mortgage interest rates.
There are lots of positives in the market. Use a Qualified Real Estate Agent to sift through the information and find the best options for you.
These are no longer the days of putting the sign in the yard and the home will sell regardless of your commitment or your Agent’s commitment to the process.