“Hot town, summer in the city
Back of my neck getting dirty and gritty
Been down, isn’t it a pity
Doesn’t seem to be a shadow in the city”
-The Lovin’ Spoonful
It’s hot and muggy outside so summer must be here. Hopefully, you had a great time on your family vacation and made memories that will last forever. Here is a recap of the real estate activity for the month of June in Denver.
New Construction- Active Homes August 2018
| Qty. | Avg. Sqft | Avg. Sales Price |
|
|---|---|---|---|
| Total Active | 119 | ||
| 100-199 | 11 | 1,379 | 188,563.00 |
| 200-299 | 26 | 1,853 | 262,601.00 |
| 300-399 | 54 | 2,622 | 351,523.00 |
| 400-499 | 22 | 3,079 | 434,084.00 |
| 500-599 | 1 | 2,146 | 508,664.00 |
| 600-699 | 2 | 3,240 | 624,950.00 |
| 700-799 | 2 | 3,993 | 779,350.00 |
| 3 million | 1 | 6,473 | 3,850,000.00 |
New Construction-Sold August 2018
| Qty | Avg Sqft | Avg DOM | Avg. Sales Price |
|
|---|---|---|---|---|
| Total Sales | 24 | |||
| 100-199 | 2 | 1,459 | 17 | 150,945.00 |
| 200-299 | 6 | 1,983 | 84 | 265,148.00 |
| 300-399 | 9 | 2,686 | 4190 | 351,006.00 |
| 400-499 | 4 | 3,200 | 130 | 415,374.00 |
| 500-599 | 3 | 3,513 | 111 | 550,527.00 |
So what do these numbers mean 
Good question. In my opinion the overall Denver market and certain subdivisions are experiencing a Buyers Market. A buyers market occurs when there is 6 months or greater supply of homes for sale.
If you look at the data for the subdivisions that were profiled (3) of the (4) have more than a 6 months supply of homes for sale. If you ever wanted to live in Sailview, Westport or Verdict Ridge now is the time to make an offer. The sellers in these subdivision might be motivated and a buyer might get a good deal.
If I were a contractor I would think twice about building a spec home in Sailview, Westport or Verdict Ridge.
Would you like to find out more information about a specific subdivision ?
Would you like to ask me a question ?
Feel free to give me a call at (704) 902-6755 or CONTACT ME via email.