|
The January 2010 Realty Times Update
It´s time to look back at 2009 and see just where South Denver metro area real estate has been and where we think it´s headed.
A total of 1186 homes were sold in the south metro area in 2009 at an average sales price of just under $291,000. Sale prices ranged from $53,000 to $3,900,000. Quite a spread! Days on the market averaged just under 90.
The numbers for the metro Denver area as a whole look good as well.
The number of active listings was down over 18% in December over those of a year ago. That means that inventory is being absorbed which will force prices higher. This is confirmed by the average sold price in the metro area being up almost 17% to just over $281,000.
Although the average list price in south metro is down from a July high, it still remains at $618,000. The number of homes under contract is December is down which reflects both the holiday season and fewer buyers as many rushed to purchase before the previous Tax Credit deadline.
Based on activity for the first few days of 2010, we see the market continuing to strengthen. Showings are on the rise and buyer interest remains strong. This despite persistent cold and snowy weather.
With a new Tax Credit deadline of April 30th, we expect the winter market to be stronger than it has been in many years. This should be a healthy lead-in to the traditionally strong spring selling season.
Because our market is becoming more and more balanced, we believe prices will continue to rise and inventory will continue to shrink.
If you´re thinking of selling, this is an excellent time to attract those buyers hoping to take advantage of the Tax Credit. If you are buying, sellers are still offering good value.
Have more questions? We can give you more details on specific areas of Denver real estate. Call us at (303) 881-8844 or email us today.
| 