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. Centennial has 2.5 MOI; 90 DOM; avg sales price $302K, -2%.
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: This relatively new city in the Metro area was formed by incorporating parts of previously unincorporated Arapahoe county. It stretches from about E-470 on the east past the Denver Tech Center as a north neighbor to Littleton on the west. Centennial Airport is included in this area. There is room for further business and residential development in the eastern part of the city. Several sections include established planned developments, as well as suburban neighborhoods.
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.
