Blog

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

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

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

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

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