Fall is quickly approaching and while the weather is cooling off, real estate opportunities for both buyers and sellers are heating up. Monthly market reports provided by LIV Sotheby’s International Realty (LIV SIR), highlights the great results the 2019 summer season has provided and is continuing to maintain through September.
The purpose of these insightful reports is to assist home buyers and sellers by keeping them in the know with the performance of the local real estate markets. With this valuable information, consumers can make more informed financial decisions. Each month, LIV SIR analyzes the various Colorado markets by looking at performance comparing 2018 to 2019 statistics year-to-date and last 12 months, year-over-year.
The Metro Denver area continues to rank as a top-performing region with important year-to-date performance indicators on the rise. As reported for August, year-to-date 2019, compared to year-to-date 2018, Metro Denver saw a 4% increase in total sales volume, a 4% increase in the average list price, and a 3% increase in the average sold price. These are encouraging statistics for anyone considering listing their home for sale this fall. Longer days on the market (+30%) and a growing number of new listings (+5%) signify that potential buyers have more options to choose from and more time to make the best financial decision for them. Currently, the average amount of time a home in the Metro Denver area spends on the market is 30 days.
Compared to the Metro Denver area, Boulder’s real estate market is remaining stable yet seeing different results. Total sales volume, the number of properties sold, the number of new listings, and the average sold price have remained fairly the same, presenting a steady level compared to this time last year. Looking at year-to-date for all price points, one metric that LIV SIR reports a shift in for Boulder is in the average days on market. The current average time a home sits on the market in Boulder is currently
63 days, up 9% from last year. There are still strong benefits for both parties, buyers and sellers, in Boulder. For buyers in the luxury sector of $1,000,000 and above, there is an influx of inventory with a 17% increase in new listings year-to-date 2019 compared to 2018. This allows for more options for buyers, met with an increase in average days on market for the luxury sector to 85 days in 2019. For sellers, looking at the last 12 months year over year there is an evident increase in performance with a 2% increase in the average sold price – while this increase isn’t dramatic, it still shows an increase in price on average.
“This summer proved to be a popular time for buyers and sellers to act and by looking at the monthly reports from this year and last year we can expect to see some of that momentum carry over into the fall,” said LIV Sotheby’s International Realty president, Scott Webber.
Although moving at different paces, both the Metro Denver and Boulder real estate markets are showing promising futures for home buyers and sellers looking to take advantage of the currently high performing real estate market.
Consult with a trusted real estate advisor today to learn more about how your real estate goals can be achieved in 2019 by calling 303.893.3200 or visiting livsothebysrealty.com. To view the monthly reports produced by LIV Sotheby’s International Realty, visit coloradomarketreports.com. For more information contact Amanda Molitor, public relations manager, at 303.486.3770.