Now is the Time to Sell Denver Real Estate
Inventory falls to its lowest level in January in 23 years, According to an article by Dennis Huspeni of Denver Business Journal.
Number of Homes For Sale are Down
Down 32 percent less than January 2012, the report shows, further bolstering the emerging seller’s market.
More Properties Under Contract is Up
Though at 2,953 the number of homes sold in January was 13 percent lower than the previous month, it was still 20 percent higher than a year ago. And the number of homes that went under contract last month jumped 43 percent from December.
The Length of Time on the Market is Less
The length of time it took to sell a home here continued to decline as the days on the market average dropped to 78, which was 25 percent shorter than the 104-day average posted in January 2012.
Average Sales Price is Up
Average sales price for those homes dropped 5 percent from December to $274,754, but that average was still 11 percent higher than January 2012’s $248,037.
“Prices are back up to pre-recession levels and homes that have been priced appropriately are receiving multiple bids and closing at much faster rates,” Kirby Slunaker, CEO and president of Metrolist, said in a release.
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