The Centennial CO Real Estate Market is well poised to see a continual rise in real estate prices.
As you can see from the below chart, the median price of homes has risen from around $292,000 in May, 2011 to approximately $331,000 this month.
The amount of homes available on the market has taken a big dive - from 483 homes in May, 2011 to 276 homes this month. That’s a 43% reduction in inventory in the last 9 months. WOW.
When you have less of a product, in this case homes, traditionally the value goes up. You can see from the chart below that is exactly what has been happening.
The amount of time it has been taking for a property to sell has also decreased drastically in the Centennial area. That time period has dropped from 179 days in Feb. 2011 to 123 days in Feb. 2012 – or a 31.3% decrease.
If you’re considering putting your home on the market, it’s important that you get the help of a professional realtor to help you make that decision and a professional stager to help you prepare your home for showings.
If you would like a free consultation from Vickie Hall, RE/MAX broker, call or text her at 303-944-1153 or email her at Vickie@DreamsCanHappen.com.