February 13, 2019, by Shaul Turner
New Colorado Realty Association statistics show the median sale price for a single family home in Denver is $425,000, that's down more than 1 percent and townhouse/condo prices are down 12 percent. Association spokesperson Kelly Moye tells FOX31 several factors contributed to the shift, “With the elections and the stock market and the subsequent government shutdown, it never picked up.”
Broomfield County is an exception along the front range, with a 4.3 percent increase in the median sales price.
Moye says there are also more homes on the market right now, putting buyers in the driver's seat, “Where there used to be one or two, they might now have ten or twenty to look at…take advantage and jump on it while you can.”
Moye advises those planning to sell a home with average amenities to list the property just under the most recent comparable price (listed no more than four months prior to placing the home on the market).
As of mid-February, properties remain on the market an average of 48 days. Your real estate agent can help tailor the best plan for selling or buying a home to your specific needs.
Peter is a Real Estate Broker at Professional Brokers Group (License No. 023000), covering the greater Short Sale area of Colorado.
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Peter Janisch specializes in short sales in Short Sale Realtor. I am your Short Sale Realtor Short Sale Specialist Realtor and Short Sale Realtor loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.