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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

When will the Spring market bloom... After the Spring market of 2022 and the crazy bidding wars etc, we are all curious what this Spring will bring. However, cold weather, holiday and post holiday travel do not make January a very good predictor of the year to come. However, if you look at the pending sales that are under … [Read more...] about Washington Park Monthly Stats – January 2023

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

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

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

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

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