Well, our Centennial weather is not the only thing that is hot. This summer’s Centennial CO real estate market is also hot with no signs of it slowing down.
As you can see from the below chart, the median price of homes in the Centennial area has dipped a little from around $343,000 most recently in May (just 2 months ago) to approximately $341,000 this month – down from $346,000 last month. This most likely just reflects the mix of properties sold instead of any change in average prices.
We may have seen the bottom of the market. If you are waiting for a recovery before you sell your home, this might be the perfect time to jump in the market because inventory of homes on the market is very, very low. Some neighborhoods are experiencing a sellers market and homes that are price right and in great condition are receiving multiple offers.
The Average Days on the Market has been decreasing since about March of this year. When you look at the above graph, you can see a good downward trend on the “Days on the Market” for a property because inventory of available homes is so low.
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 need a private consultation on your particular real estate situation, call me (Vickie Hall) at 720-515-1122 or email me.