August Real Estate Statistics Days On Market Down 35 PerCent From 2013

Dated: 09/23/2014

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Here 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 price.

  • 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.
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LaDawn Westbrook

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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