No Cause For Alarm... There was a 26% drop in the number of sales in Washington Park this year. On the surface, that seems alarming but it really is a function of the low inventory. Homes sold quickly with it only taking an average of 21 days in East Wash Park and 15 days on the West side. However, there were fewer homes to … [Read more...] about Washington Park Market Report – 2022 in Review
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Washington Park Monthly Stats – December 2022
Let's Put This In Perspective..... The fact that the number of active listings is up 86%, closings are down 51% and the length of time it takes to sell a home is up 100% from a year ago, might be alarming were is not for these statistics compiled by the Denver Metro Board of Realtors about the historic averages of the December … [Read more...] about Washington Park Monthly Stats – December 2022
Washington Park Monthly Stats – November 2022
Back in Balance? You may recall that this time last year, there were only 9 homes for sale in Washington Park. This year there are a whopping 21 available. Even though that is a 133% increase from last year, that is the second lowest December inventory in the last 10 years. So, we are headed to more balance in the market but … [Read more...] about Washington Park Monthly Stats – November 2022
Washington Park Monthly Stats – October 2022
We Are Right Side Up Again... If you look at the chart, in most months over the last 10 years, we had more homes in inventory on the first day of the month than we sold in the prior month. That changed pretty dramatically in 2021 and continued into the first half of 2022. Now we can clearly see the new trend that began in June … [Read more...] about Washington Park Monthly Stats – October 2022
Washington Park Monthly Stats – September 2022
Interest Rates are Doing Their Jobs... The Federal Reserve has been gradually raising rates since the Spring of this year. The purpose, as I understand it, is to curb inflation. The rate rise to over 7% seems to have curbed Washington Park real estate prices. Of the 32 homes that sold this month, 11 (or 34%) sold at or over … [Read more...] about Washington Park Monthly Stats – September 2022
Washington Park Monthly Stats – August 2022
Is it a change? Yes. Is it a disaster? No. It was bound to happen. No one thought the record breaking spring market could continue and it has not. However, we are still in a Seller's Market. According to what I have read over the years, a balanced market is 3-6 months of inventory. It tips to a Buyer's Market somewhere around 6 … [Read more...] about Washington Park Monthly Stats – August 2022
Washington Park Monthly Stats – July 2022
More Options For Buyers.... By now you have seen the headlines "The Seller's Market is Over". It is true that we closed 9 fewer homes in Washington Park this July than we did last July. However, we still closed more than we did in July of 2019 or 2020. If I recall, that was still considered a Seller's Market however, just not … [Read more...] about Washington Park Monthly Stats – July 2022
Washington Park Real Estate – First Half Market in Review 2022
It Was A Roller Coaster Ride... If you look at the Active vs. Sold chart, for twenty consecutive months we have seen an inversion where the number of homes available on the first day of the month is less than the number sold in the prior month. Of course, this spawned the kind of market you may have heard about. January through … [Read more...] about Washington Park Real Estate – First Half Market in Review 2022
