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 is the market data for Englewood: 2.5 MOI; 94 DOM; avg sales price $250K, -11%
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: The city of Englewood is in the south central part of the Metro Denver area. It includes established suburban neighborhoods and a revitalized downtown area full of a variety of old shops and new town developments. The light rail keeps it well linked to downtown Denver.
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.
