RED Hot August Market Indicators
Barb Schlinker Radio Show
719-301-1802 | 719-301-3900
Your Home Sold Guaranteed Realty Colorado
The August real estate market numbers are out and this market is RED Hot, Let me tell you about the trends you are seeing. Two Strong Indicators for August; Available Inventory down by 51% from 1 Year Ago. Typically we are seeing over 2000 available homes on the market at this time. Currently only 1079 Single Family Homes available in El Paso Teller & Elbert Counties Total Number of Homes that Went Under Contract UP by 22%. Average Days on Market = 19 Days. Average & Median Price Increased in Just 2 months!
Month Supply = # of Months to Sell all Inventory by Price Range
Buyers: Make great offers…
Last week: Price $359,999, Offer $340,000, lowered price to $349,999
Got a full price offer and $340K buyer lost out
Sellers: Respond to Market Trends.
●More than 10 showings – no offers – Priced too High
●Make sure your home is NOT DATED – if so price accordingly or update
o Just cosmetics:
●Gold Light Fixtures
Just listed a home that the seller put Bright Red Shag Carpet over Real Hardwood – Yikes! In the price range, it was less expensive to just replace the carpet rather than re-coat the hardwood. That is the best option because the price range is low enough.. Buyers do NOT want to take on ANY rehab projects unless you price it WELL BELOW MARKET.
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