Jan 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 of Sold Listings is Down

The inventory of sold listings is down 21% year-over-year. With less competition for homes, this is a great time for sellers to strategically position their homes on the market to attract the attention of high-quality buyers willing to pay for the value your home provides. This is also why 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

Currently, the median sale price is now at $660,000, down 4.3% from $690,000 year-over-year. 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 with days on market up 75% year-over-year, 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, it’s time to get started on your strategic marketing plan.

Call for your 15-minute 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	Year to Date	Analysis
Median Sale Price	↓ Down 4.3%	Median sale price is now at $660,000, down 4.3% from $690,000 year-over-year. 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 75% (+12 Days)	Median days on market are up, at 28 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	↓ Down 3.5%	Supply has outpaced demand, and sellers who overpriced their homes are now facing the reality that it will take even longer to sell and go through even more price reductions. When you start with expert strategy, you can sell for the highest possible price in the fewest days on market possible.
Price per Square Foot	↑ Up 4.6%	Price per square foot in the 80212 zip code is currently at $478/sq. ft. for the year. 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 REcolorado

Looking Ahead

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

Low Supply of Available Homes

Denver had a decrease of 18% in available inventory year-over-year. With inventory low, and days on market up 75%, it’s extremely important to have a proven strategy and expert guidance from the beginning to maximize your results.

2024 Will Open Up More Doors of Opportunity

Denver had one of its lowest new listing years, coming in 18% lower year-over-year, and as much as 29% lower than in 2019. And while days on market has almost doubled year-over-year from 16 days to 28 days, sellers who priced right and strategically positioned their home on the market from the very beginning sold. With rates slowly dropping, affordability improves, and everyone will have more choices.

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