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Days on Market Boulder and Denver (Residential)

Average Days On the Market (DOM) is an important metric because statistically a home should go under contract in an optimal number of days and correlate to the price point and neighborhood.  The marketing and negotiation strategy should be tailored to this key metric.  And, DOM can also give an indication how robust the market is.

City of BOULDER all homes JAN to JAN comparison:

0% of all home Buyers have some sort of financing which affects the average number of Days on the Market. This is because it takes an average of 30 days for most loans to close after a property has been placed under contract. Therefore; if the average DOM was 30, one would interpret that homes were under contract, within only a day or two of being listed. 

The graph above for Boulder Colorado shows that most homes are on the market in January for 47 days before going under contract (total DOM 77).  The DOM trend is moving toward a more equalized market with supply and demand coming into balance. 


The number of DOM decreased slightly in 2018 and increased significantly in January 2019.

The months with the greatest DOM for 2017 and 2018 is January, which is the slowest month of the year.  Over the next several months until June we will see fewer days on the market, because demand is catching up with inventory.  This is a good time to be a seller and can be hit or miss for Buyers.  The late summer and fall usually see an increasing total number of days on the market peaking in January. 

The Graph above shows the number of DOM for Boulder since 2010. One thing to note is that even though the total number of DOM has increased in January 2019 over the January 2018 and January 2017, the DOM as in indicator still shows a robust housing market when taken into the context of the last eight to 9 years.

The DOM on the market indicator for Denver is substantially lower than in the Boulder market. This is the result of several factors, but the main factor is the way that DOM is calculated in the Denver compared to Boulder. In Denver the predominate Multiple Listing Service (where homes are placed for sale) is different than in Boulder. Using this system, most Denver based agents will change the status of a home that has gone under contract from “Active” to “Pending”.

The Pending status will essentially ignore the period during which the loan is processed, so in this case there is no need to subtract the 30-day loan processing/waiting period.  Another significant factor is that Denver properties on average experience fewer DOM than in Boulder because the price point tends to be more affordable than in Boulder.

One can see that the Denver market has also had a slight increase  in the number of DOM, but that in general, properties are still being placed under contract within 8 days of hitting the market.

Taking that into a historic perspective of the last 10 years, we see that the Denver Housing Market is still very robust.

When properties sell very quickly, its important to have a strong lender who can give your offer an edge with the ability to close quickly.

One strategy is to get pre-underwritten which means the lender evaluates all your income and qualifications as if you were under contract to purchase a home, the only thing left for you to do is find the house and get it under contract.  After this is complete, the only outstanding item is the appraisal and the loan will be nearly ready to close.  If the home is priced correctly, this makes your offer competitive with a cash offer.  Another tip is to have a Realtor who is responsive and dedicated enough to you to act immediately when a home that fits your criteria hits the market.

Logan Schlutz

303-815-3922

logan@pros.realtor

 

 

 

How budget makeovers can increase selling price

Seasonality can have a positive or negative effect on the rate and price at which homes sell.  Unless there are extenuating circumstances, I advise that sellers do not list their homes in January.  This January, I spent the month working with our interior designer to get my sellers ready for professional photography and staging.  Investing in interior design works wonders!  On a budget of $2,000 I helped some of my former clients sell their home for $55,000 more than we thought possible prior to our budget make over.  

This is our designer Nan Fischer with Nan Fischer Décor.  We use Nan’s expertise to advise on value added improvements, paint and staging design.  Nan has been featured or published in the following media: 

-Solar Age, Victoria and Boulder Magazines

-HGTV, My First Sale Episode; Casey/Boulder Stager Episode

-Comcast Television, Design Bits, 15-minute design methods

 

Why Interest Rates Rise

Many real estate professionals are currently asking how rising interest rates are going to change their business, especially in the short run.  The first question we need to understand is why interest rates are climbing.  Interest rates, global bond markets, and inflation are closely tied together, and they have a combined effect on mortgage rates.  A faster growing economy gives investors confidence and money flows out of conservative bonds which impacts the bond market.  Additionally, when the economy is growing consumers have more money to spend, and inflation can result.   A strong economy, de-valued bond prices, inflationary concerns, and continued short-term rate increases from the Federal Reserve are causing higher mortgage rates.

May Market Update

 

 

 

 




 

Real Estate Market Summary:  May, 2016

 

“Either make your money work for you, or you will always have to work for your money”

 

The ultimate goal in holding an asset, is to make a return for profit on the original investment.  When you take away the physical and emotional connection to owning a house, you have an asset in its truest definition.  The goal of this document is not to force your hand into making a decision on a whim, however it is to inform you of what is happening in the surrounding community. More specifically, Colorado has been noted as “the second-hottest real estate market in the United States.”  Not only has the market made a great comeback over the last few years, the first months of 2016 have created an unique opportunity to cash in on your investment.

 

Over the last twelve months (April 2015 - April 2016), the market has shown:

 

  • 31.3% decrease in months supply of inventory on housing

    • metric used to determine how many months it would take to sell all current

    inventory

  • 9.2% increase in housing prices

  • 11.7% decrease in amount of days spent on market

  • 6.2% decrease in new listings

 

→ This graph depicts the Months Supply of Inventory of Boulder, Weld, and Larimer counties across the last three years.  The current low values mean that houses are flying off the market at an unprecedented speed!

 

→ This graph depicts the Median Sales Price of Boulder, Weld and Larimer counties across the last three years. There is a steady and positive trend in the above graph.  This not only means that houses are gaining in value, but people are also spending more on housing.  

 

At this point in time, there is high demand for houses on the market. Seasonality can play a role as well; Summer tends to be a popular time to try and sell, or buy a new house due to the ease that comes with the warmer season.    After analyzing the outlined data above, along with the low months supply metric, and the rising median sales price, it marks an advantageous time to capitalize on your investment.

 

Estate Professionals has 20 years experience in Boulder County real estate.  Call for a free, no obligation personalized market analysis of your property 720-466-3101.

 

All the best,

 

Dena Schlutz and Logan Schlutz

 

How Much Is My Home Worth in Boulder, Colorado

How Much is your home worth in Boulder, Colorado?  If you are planning on selling your home, that is a question you need answered.  As your Local Boulder Real Estate Expert, I can help you to learn the answer to that question.  I will personally do the research on your behalf and provide you with a detailed Free Market Analysis.  Please feel free to take a few moments to complete the basic information below and I will go straight to work for you.  Or, if you prefer, please feel free to give me a call directly at 303-588-7532.

See: Homes for Sale in Boulder, Colorado

FOR A COMPLETE MARKET ANALYSIS FORM: CLICK HERE (link to Free Market Analysis)
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Have You Ever Considered Purchasing a Home in Boulder, Colorado

Have you ever considered moving to beautiful Boulder, Colorado?  Boulder is a desirable community & great location.  Boulder, Colorado boasts a variety of local landmarks, excellent schools, parks and much much more.  Take a look at some of the most popular searches in Boulder, Colorado and the surrounding areas.

See: Homes for Sale in Boulder, Colorado

Not quite the location that you are looking for?  That is okay.  Through my website you can search for the exact home you are looking for in the exact city, county or community you are looking for.  Search for your perfect home, in the perfect location by taking advantage of my Advanced Search tool built directly into this website.

Find Your Dream Home in Boulder. Colorado

There are so many different kinds of homes out there for families to choose from.  Do I want to live in Boulder?  Or maybe you want to find a home in Boulder.  How many bedrooms and bathrooms do you need?  Do you need a large back yard?  A small backyard?  Do I even need, or want, a yard at all?  Don’t even get me started on the front yard and curb appeal.  Hardwood floors, tile, carpet.  There are so many things to consider when looking for your dream home.  How, then, do you find the right home for you?

The answer is to put me to work for you.  That is what I do for my clients.  Completing my basic Dream Home Finder I can immediately go to work for you.  Of course you can take advantage of my Quick Search and my Advanced Search tools to surf through all the homes for sale in ENGLEWOOD, Colorado or the surrounding areas.  By completing the Dream Home Finder, I can use additional resources at my disposal to locate homes for sale that may not be available in the public view.  In addition you are a busy individual and my passion is to work for you to find that dream home and schedule tours for you.  By working together as a team with your dreams and my resources, finding that dream home is only one tour away.  It is my passion to find you that one right tour.

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Testimonials

Dena was by far and away the best real estate agent we have ever used in our 40 years of dealing with Real Estate transactions. We own or have owned property in 5 states and she is the best agent, hands down! P. McConathy
"Logan is a phenomenal realtor. He was extremely professional, fun, caring, and extremely knowledgeable. You can tell he truly cares about his customers and goes the extra mile to make sure they are happy. Once we outgrow this home, Logan will be the first person we call." M. Wheeler
Dena and her team at Estate Professionals were amazing during a recent challenging purchase of a beautiful home in the area. She has great expertise and negotiating skills readily demonstrated on our behalf. We highly recommend her and her company for any future purchases or sales in commercial or residential realty in the future. D. Grossberg
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