Glancing at the Numbers
Posted by Kathie Shandro on Thursday, March 12th, 2009 at 7:24pm.Denver real estate sales generally heat up in March, April and May. There's a reason to the seasonal nature of the industry: families prefer to move in the early summer months when the weather is mild and the kids are out of school. What's in store for 2009? Will this March reflect the trends of previous years?
There are market indicators which cause real estate professionals to pause. Chief among them is the sales data from January and February 2009. This year, 3,951 residential homes sold in the Denver metro area during the months of January and February. In 2008, that number was 4,693. We've seen a 15.8% decrease in the number of homes sold over last year.
Another reference to consider is the number of homes listed for sale in the month of February. Last February, sellers listed 7,889 Denver homes for sale. This February, that number was down 23.6% to just over 6,000 homes for sale. In other words, fewer homeowners are planning to sell their home this Spring.
On the bright side, if listings are down 23.6% but sales are only down 15.8%, the number of Denver listings competing against yours is lower than last year. In fact, the Average Days on Market decreased to 107 Days - just over 3 months - for listings in the Denver real estate market.
Are you thinking about selling your home this Spring? Before you set aside your personal and financial goals, contact us. We are RE/MAX Realtors with expertise across the Front Range. You might be pleasantly surprised to hear that your neighborhood has weathered this storm with ease.
Kathie Shandro
Licensed Colorado Realtor®
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