April 2022 Real Estate Snapshot

 

Quick Stats:

  • This March, 6.4 percent of closed transactions reduced the asking price before receiving an offer. This compares to 10.8 percent in March of 2021. These properties that reduced price spent an average of 55.4 days in the MLS compared to 8.3 days for those with no price reductions. It’s clear that pricing properties correctly results in a faster sale from the start.

  • The average active listing for March is 13,917 (1985-2021)

  • Record-high March was 2006 with 27,309 listings and the record-low was set in 2021 with 1921 listings

  • The historical average increase in active listings from February to March is 6.44 percent. An increase of 81.16 percent this March represents the largest percentage increase on record but only the 12th highest in the number of listings at 995.

155 Steele #412 - THe Laurel Cherry Creek | 1 BD, 1.5 BA | 934 SQ FT | $1,195,000

 

Perfect Pied a Terre in LAUREL! Fully Furnished Luxury condo in Cherry Creek. Only a few years old. This condo was professionally decorated with designer furniture, artwork, and housewares. Enjoy the rooftop entertainment and amenity deck with saltwater swimming pool, outdoor kitchen, gas grill, and fire pit. Secured building with a full-service concierge and lobby lounge. Interior finishes include a private balcony, gas range, SubZero refrigerator, hardwood floors, gas fireplace, spacious custom closets, wool carpet, porcelain tile, LED lighting, and flat-screen TV w/ soundbar. Tenant occupied until 9/30/22. MLS #7304596


March 2022 Real Estate Snapshot

 

Quick Stats:

In January of 2010, we closed 809 distressed homes. That statistic represented 40.5 percent of all closings. Last January, that number dropped to only eight distressed homes or 0.25 percent of all closings. This January the numbers continued to drop to a total of five distressed homes or 0.17 percent of the total. Of the five, two were bank-owned, three were HUD foreclosures and non were short sales. At this point, COVID restrictions had no discernible effect on the market.

Average active listings for February are 13,220 (1985-2021)

Record-high February was 2006 with 25,484 listings and the record low was set this year with 1226 listings.

The historical average decrease in active listings from January to February is 2.88 percent. An increase of 3.55 percent this Februay represents a needed rise in housing inventory.