Market Report

July 2015

 -5.4% Closed Sales  (5,229 units)

 +3.8% Pending Sales  (6,536 contracts)

 -9.1% Active Listings  (7,170 listings)

 -3.3% New Listings  (9,182 listings)

+10.3% Average Sale Price  ($364,920)

 -32.4% Avg Days On Market  (17 Days)

Back to School Already?

Summer went by way too fast!

Now that school is back in session let’s start to focus on the next part of the year. The real estate inventory remains the story of the year in Denver.  The shortage of homes available has had it’s toll on the market. Would-be buyers are starting to sit the fence out of frustration with the lack of available options and sellers begin to see longer days on market and price adjustments in the middle to high price ranges. The federal reserve has all but confirmed that rates will increase by end of year.  Inventory doesn’t look like it will even out too much with the demand in the next year or so, which means we should have a market similar to what we’ve seen so far this year. There is opportunity in many areas.  Sellers are still seeing excellent equity gains, especially in the below $400k range and buyers that are fortunate enough to find the right home find it is often less expensive than rent. Investors are profiting with skyrocketing rental rates and very low vacancy, while their investment continues to gain value. Please call, text or email me if I can help with any real estate for you or someone you may know.  720-849-6101 | sold@stevescheer.com

Thanks,

Steve