Dec Market Report – Taylor Bristol

Dear Neighbor,

As a homeowner, when your lifestyle evolves, you may start considering a relocation or you could be finding your home no longer provides the space you need to comfortably live and work. However, when you decide to sell, you want to make sure you’re doing everything you can to maximize your sale price.

For most of us, our homes are the largest asset we’ll ever own—so you are right to want to understand this asset and the market you are in. As you consider selling, you deserve the insight and guidance from an expert in your local market. Here are the top things to know about the Denver real estate market right now:

Inventory is Down

Year-over-year, the inventory of active listings is down 19.2%, and under-contract listings are up 5.2% compared to November of last year. With less competition for homes, you want to work with a real estate expert who understands how to strategically price and market your home so you get maximum return.

Median Sale Price Has Declined Making Your Listing Strategy Even More Important

When correctly priced and positioned well on the market, homes are selling at or above list price. Currently, the median sale price is now at $626,250, down 4.4% from $655,000 in November 2022. These stats really add up when you are selling your largest financial asset–and that’s exactly why you deserve a strategic marketing plan.

Days on Market are Increasing

The market isn’t as active compared to November 2022, but with the right strategic plan, pricing, and positioning for your property and your goals, we can attract maximum offers and get your home sold for the highest possible price in the fewest days on market.

As a homeowner, what does this mean for you?

If you’re thinking about selling in the next 12 months, now is the time to start preparing for market.

When you’re selling one of your largest assets, you want to know you have the full support you need to make this process successful and seamless. This is why, when you work with me, I make it a point to ensure that you feel comfortable and confident throughout your entire home sale. To make sure we maximize your results, I employ exclusive strategies designed to boost your ROI and showcase your home to the most qualified buyers.

With a hands-on approach, strategic negotiations, and a systematic process for selling homes, I strive to make the home-selling process stress-free.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 303-818-1418

We will cover your goals and my unique approach to getting you the highest possible price in the fewest days on market.

Call Today → 303-818-1418

Taylor Bristol

REALTOR®
License # FA.100101081
eXp Realty
www.homewithtaylor.com
[email protected]
303-818-1418

Denver Market Highlights

Single-Family Home Stats	Nov 2022 vs. Nov 2023	Analysis
Median Sale Price	↓ Down 4.4%	Median sale price is now at $626,250, down 4.4% from $655,000 in November 2022. When you price correctly from day one, you can maximize offers and ultimately sell for the highest possible price as quickly as possible.
Median Days on Market	↑ Up 24.1% (+7 Days)	Median days on market are up, at 36 for the year. As demand has decreased, this further demonstrates the need for precise strategy with pricing and marketing to ensure your home sells for top dollar in few days on market.
Sale-to-List Price Ratio	↑ Up 0.4%	Correctly priced, strategically marketed homes are selling at or above list price, making it especially important to start with an expert strategy from day one to sell for the highest possible price in the fewest days on market.
Price per Square Foot	↑ Up 15.7%	Price per square foot in the 80212 zip code is currently at $471/sq. ft., up from $407 in November 2022. To maximize your results, it’s extremely important to have a proven strategy and expert guidance from the beginning.

Source: Local Market Update Provided by the Colorado Association of REALTORS® and Altos Research, Inc.

Looking Ahead

Here’s what we’ll be watching over the coming months:

Low Supply of Available Homes

Denver had a decrease of 19.2% in available inventory coming out of November. With inventory low, but days on market up 24.1%, it’s extremely important to have a proven strategy and expert guidance from the beginning to maximize your results.

Buyers Are Eagerly Searching

Buyers are eager to scoop up the available inventory. With inventory as low as it is, it’s a great time to sell. Regardless of what twists and turns the market takes, to truly maximize your return on investment, it’s crucial that you strategically position your home to buyers.

Continued Growth in Denver

As Denver develops, we’ll continue to see property values increase. Here are just a few things to note:

Colorado now ranks number one, boasting the highest share of millennials in the country per Scholaroo.
Per SmartAsset, Denver became home to the 5^th largest group of millennial movers in 2022. They continue to love it here because of the employment opportunities and quality of life despite a lack of affordability.
Travel + Leisure named Denver the No. 1 Best U.S. City for Fall Travel.

What to Expect When Selling Your Home

The market consistently evolves–and you deserve to sell for the highest possible price no matter what. The right marketing strategy, pricing knowledge, and negotiation power are what make the difference when you’re ready to sell your home and embark on what may be one of the largest financial transactions of your lifetime.

If you are thinking about selling your home in the next 12 months, call me today for your Strategic Marketing Consultation → 303-818-1418