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August Real Estate Statistics Days On Market Down 35 PerCent From 2013
are the highlights for August 2014:
- 43.7% of sold transactions went under
contract in 7 days or less, and 45% sold for at or over their asking
- Average days on market for detached
units under $400,000 was 17 days, this number is typically 89.
- Based on the closed transactions in
August of 4,854 we need 29,124 active listings to create a balanced market
with 6 months of inventory.
There are only 7,278 active attached and detached units in the market place, leaving us with only 25% of the inventory we need.
- The inventory shortage for attached residences continues, and not a single new build permit for condos was pulled in August 2014 for Denver County.
• Percentage of distresses sales has dropped from the peak of 41% down to 3%
• Distressed sales continue to wane. Banks are less likely to approve short
• Percentage of distressed properties in the Condo segment have dropped from a peak of 51% in January 2011 to current volumes of 3% in August 2014.
• This number continues to decline.
• Average days on market reached their lowest in June 2014, and remained at nearly the same sitting at 26 days.
• Currently sitting at 26 days, down -35.0% from one year ago.
• Historical average is usually between 90-110 days on market.
With more than a decade of experience, LaDawn enjoys educating first time home buyers, working with the 55+ community, relocation clients, sellers who want to downsize, step up purchase or anything in....
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