The market is shifting back up in Adams county for homes up to about $250,000 in price. This part of the market has neighborhoods that have increased in value compared to this time last year. For the upper middle and upper ends of the market, supply still outstrips demand and prices are still being affected by distressed property sales.
In January, the entire MLS had a 7.3 month supply of homes on the market, making it slightly a seller's market. (A 6 month supply is a is a balanced market, favoring neither buyer nor seller. 2,353 homes and condos sold in January out of 17,465 listings. Even though we expect a seasonal slow down, this one have a decrease in volume by 11% below January of 2009. The 11.6% increase in average sales price reflects the balance in the market as people wanting a home from the smaller supply are no longer driving the prices down. As in Adams county, so to the rest of the Denver Metro area--The upper end of the market is still depressed and has a strong buyers market. So, remember to ask the most important question, "What is the market in my neighborhood?"
First time and repeats home buyers-don't miss out on the tax credit. Remember you need to close by the end of March 2010 to get the benefit. Adams county has some of the best values in the metro area for home buyers.
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Location Characteristics: Adams County is found in the north of the Denver Metro area. Brighton, once a farm town, is the county seat. The area includes a variety from rural areas to small towns to master planned communities to established suburban neighborhoods. Look for Brighton, Thornton, Commerce City, Northglenn, Federal Heights, Westminister and part of Arvada in Adams County.
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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.
