This second quarter is much like first quarter, low inventory and constant demand make it a seller's market.Remember any MOI (months of inventory) less than 6 is a seller's market. DOM is days on market. The average sales price is compared to a year ago in 2011. Here's sales data for some of the cities in Arapahoe county: Aurora: 2.0 MOI; 97 DOM; avg sales price $191K, -1% Centennial: 2.5 MOI; 90 DOM; avg sales price $302K, -2% Cherry Hills Village: 8.2 MOI; 177 DOM; avg sales price $1,409K; -7% Englewood: 2.5 MOI; 94 DOM; avg sales price $250K; -11% Greenwood Village: 5.4 MOI, 165 DOM; avg sales price $872K; 0% Littleton: 3.3 MOI; 109 DOM; avg sales price $318K, 05
If you're looking for a home, you don't have lots to choose from and have to compete with the investors for your primary residence. Many buyers are waiting to find the right home at a fair price, and won't settle for an overpriced fixer upper.
If you're selling a home, you should have much activity-more than usual for Spring. If your home is priced right, you should be under contract soon. If you have no offers, or worse, no showings, the savvy buyers are not considering your home because of price. Be aware!
This is a GREAT TIME FOR INVESTORS AND MOVE UP BUYERS.
Location Characteristics: Arapahoe County is found south of Adams and Denver counties from east of E-470 to the middle of the Metro area.It includes high tech employment areas, Centennial Airport, semi-rural areas, planned communities, established suburbs, and revitalized suburbs. The Highline Canal meanders through the town providing part of a great trail system for runners, bicyclists, and nature lovers. Cities in Arapahoe County include Glendale, Aurora, Centennial, Cherry Hills Village, Greenwood Village, Littleton, Bow Mar, Sheridan, and Columbine Valley.
About Beth Baker Owens:
SELLERS: consider improving your home while waiting for the market to go back up. Ask me for a 'Get Ready, Get Set' report to focus your efforts for the best return when you put your home back on the market. We track what's happening and can show you what's new in your neighborhood.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
