Market Report South Denver
|Posted by Kevin Connolly on October 7, 2014 at 5:05 PM|
To date, sales volume for all of the south Denver neighborhoods is outstanding. Prices where great if you are selling your home. the sales volume could have been much higher if not for the continuing low inventory of homes for sale. Ironically the actual sales closed volume was about the same as 2012 & 2013. With the Inventory lower, the prices increased. In a recent publication, The Denver Metro Association of Realtors reported that inventory had risen 6 to 7% throught the entire metro area, but that has not been the case in our south Denver neighborhoods. Looking for a Inventory increase in the 2nd quarter which did not occur and as we have entered the 3rd quarter, inventory has not improved. That is good news for sellers, not so good news for buyers. The continuing low inventory is keeping prices at record levels. There is much speculation about the low inventory of homes for sale. For sellers looking to move within the metro market, fear of not finding a suitable replacement home, post recession loan qualifications changes & and a general feeling that rates will remain low indefinitely seem to be the major reasons that people are just staying where they are. We expect the we will see improvemnt in listing inventory soon though as fall has historically been our second busiest season after the spring market. If you would like a free home market report give us a call here at Verde Denver.￼
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