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The Bridge Team

2023

Washington Park Monthly Stats – October 2023 in Review

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It's a Buyer's Market for New Builds... With only one of Washington Park's new construction single-family homes under contract, one that closed in October, and with 11 on the market, it is a Buyer's Market for that type of home in this market. If you have had your eye on one, now would be the time to make an offer. The one that … [Read more...] about Washington Park Monthly Stats – October 2023 in Review

Washington Park Monthly Stats – July 2023

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The Scales are Tipping... It does appear that the high end is beginning to feel the effects of the higher interest rates. However, with 4 sold and 16 active over $3 million, we still only have a 4-month supply in that range. Experts say it takes a 6 month supply to tip the scales in favor of buyers. We are not there yet but … [Read more...] about Washington Park Monthly Stats – July 2023

Washington Park – First Half Market in Review 2023

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Not So Fast... It is still a Seller's Market in Washington Park. It just isn't happening quite so fast. The number of days it takes a house to sell has doubled over a year ago. However, we remain far from a Buyer's Market. We have sold an average of 33 homes a month so far this year. With only 52 homes in inventory as of August … [Read more...] about Washington Park – First Half Market in Review 2023

Washington Park Monthly Stats – May 2023

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More Normal.. In May of 2022, I asked if this was the peak? May of 2022 was one of only 3 months in the past 10 years where we closed over 50 sales in a single month. May of 2023 saw a 40% decrease in that number with 33 sales.  Compared to May of 2022, that is a significant decrease but compared to prior Mays, it was about the … [Read more...] about Washington Park Monthly Stats – May 2023

Washington Park Monthly Stats – April 2023

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Back to Normal... Metro-wide the number of closings from March of this year to April dropped slightly from 3,534 in March to 3,342 in April. However, Washington Park bucked that trend and went up from 21 closings in March to 27 in April. In April, it took an average of 35 days to sell metro-wide but in Washington Park, it only … [Read more...] about Washington Park Monthly Stats – April 2023

Washington Park Monthly Stats – March 2023

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Good News All Around... How this Impacts Buyers With the busy season going at full speed, more homes are making their way to the market. REcolorado data showed a Metro wide 42% increase in fresh listings from February to March and Washington Park saw a 15% increase. Buyers may feel a bit less pressure to make an immediate … [Read more...] about Washington Park Monthly Stats – March 2023

Washington Park Monthly Stats – February 2023

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Inventory Remains Low... Inventory remains remarkably low. This continues to bolster the market. If you take the one outlier away that took 163 days to go under contract, the days on market for the homes that are currently pending drops to just 16 days. That is still among the fastest selling markets we have seen in the area in … [Read more...] about Washington Park Monthly Stats – February 2023

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