Top 10 #DMARstats Insights
1.
Top three counties for SOLD properties in May: Denver (1,118), Arapahoe (1,045) and Jefferson (959).
2.
7,054 homes came onto the market, 5,877 homes were placed under contract, 4,913 homes closed and the inventory of available homes for sale was 5,657 at month's end, May 2015.
3.
Traditionally affordable neighborhoods are increasingly becoming less affordable.
4.
Some new home communities are no longer accepting contracts that are contingent on the sale of a replacement property.
5.
The housing market is feeling less hectic than it has been in recent months as more properties are coming online, and some buyers have decided to take a little time off.
6.
Overpriced listings are sitting longer on the market as buyers are willing to wait for reductions, or buyers are making a run at them at a fair market value.
7.
As home values continue to rise and affordable housing is more difficult to find, home buyers will start to show less exuberance as the perception of value declines.
8.
With the market slowing ever so slightly, many agents are reporting the ability to negotiate on price and even concessions – something we have not seen in quite some time.
9.
Buyers having to bring cash to cover the appraisal gap became an expectation for a period of time these past few months, and we'll have to see if this trend continues in the <$350k market.
10.
Nationally, there is a 5.3-month supply compared to the 11-County Denver metropolitan area at 1.28 months.
