Denver, CO housing market

In Denver, nearly a third of the homes for sale right now have already cut their price. If you are thinking about selling this year, that one number tells you more about your market than anything else. There are about four thousand four hundred homes sitting on the market in Denver, and the typical one takes about fifty seven days to find a buyer. That is a long stretch, and it explains the cuts. Sellers are listing high, waiting, and then giving ground. Values reflect it. The typical Denver home is worth about five hundred twenty thousand dollars, down roughly 2.3 percent from a year ago. But here is the part most people miss. Only about fourteen hundred new listings came on this month, against a backlog of over four thousand. This is not a flood of new sellers. It is homes that are not selling. And the median asking price is still just over five hundred thirty thousand dollars, above what homes are actually worth, so many sellers are starting high and chasing the market down. If you sell, price it right on day one, because aiming high here means sitting for two months and cutting anyway. To see what your Denver home could realistically sell for, get a free estimate at Home Value Pros dot com.