Heading into March, some prospective buyers and sellers may still be waiting for the spring market to ramp up before making a move. However, it’s predicted that sellers who list sooner are more likely to see larger benefit from taking advantage of early buyer activity (reported from Megan Aller, Sales Executive with First American Title). On the flip side, sellers that wait until the summer months to list their home should be prepared to sit on the market for a little longer.
The Greater Metro Denver Real Estate Review (Aller’s report) looks at previous years’ history and shares helpful predictions for anyone interested in making a real estate transaction this year. The main takeaway for 2019 is sellers who get on the market sooner will see the most benefit. Another interesting fact – over the last 10 years, the weekend immediately following the last game played by the Denver Broncos showed an increase in real estate activity. For the 2018-2019 season we unfortunately saw this increase sooner than desired for Broncos fans, with a healthy uptick in January real estate.
As reported by LIV Sotheby’s International Realty in the monthly market reports, it’s evident there are sellers that are following this advice and have already listed their home. Looking at the last 12 months, year-over-year, Metro Denver homes $1,000,000 and above reported extraordinary results with a 16% increase in total sales volume, a 15% increase in properties sold, and a 19% decrease in average days on market. These metrics show that 2019 is off to a healthy start for real estate within the luxury sector of the Metro Denver area.
As mentioned by Shannel Ryan, senior vice president and managing broker for LIV Sotheby’s International Realty, there are clear signals that 2019 market activity is off to a great start when looking at all price points as well.
“To understand what is happening today, we can look at showing activity for the last two weeks of February versus the first two weeks of February. LIV Sotheby’s International Realty’s showing activity is up 17% during the past two weeks and up nearly 10% over last year across all price points – a great indication that 2019 market activity is off to an excellent start,” said Ryan.
With the start to a new year, buyers can still reap the benefits if they act quick. Looking at the year-to-date statistics for all price points in Metro Denver, properties sold and average list price basically remained flat, allowing buyers an opportunity to look for their dream home without paying the competitive prices we will most likely see later in the year. New listings have increased 16% year-to-date, showing that sellers are ready to make the move and that buyers have options.
Talk with a real estate professional today to best time your real estate transaction. Call 303.893.3200 or visit LIVSothebysRealty.com to discuss all of your real estate needs. Visit ColoradoMarketReports.com to view the report mentioned in this article. For more information contact Kelli Williams, director of public relations, at 303.486.3738.