12690 East 6th Avenue Market Analysis

at Keller Williams Integrity

The Ba

ic G o p'

Ma ke

Single-Family Homes

Repo

www.TheBarticGroup.com

A

This week the median list price for Aurora, CO is $640,000 with the market action index hovering around 96. This is less than last month's market action index of 99. Inventory has increased to 329.

Ma ke

Real-Time Ma ke

Ac ion Inde

This answers How s the Market? by comparing rate of sales versus inventory.

50

40

Buyer's Market

60

20

80 100

10 0

on

S

90

M

ay Tod th

Las t

96 S

Seller's Market

70

30

' Ma

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we re in a Seller s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer s one, watch for downward pressure on prices.

Ma ke

a, CO P ofile

Median List Price

$640,000

Median Price of New Listings

$599,900

Per Square Foot

$222

Average Days on Market

20

Median Days on Market

7

Price Decreased

32%

Price Increased

7%

Relisted

1%

Inventory

329

Median Rent

$2,815

Market Action

96

S

S

' Ma

Segmen

Each segment below represents approximately 25% of the market ordered by price.

M da P c

S .F.

L

$890,990

4,496

$701,907

S

B d

Ba

A

N

Ab

8,000 - 10,000 sqft

5

4

10

25

18

14

3,363

6,500 - 8,000 sqft

4

3

16

22

15

14

$600,000

2,542

6,500 - 8,000 sqft

3

3

20

29

18

7

$500,000

1,800

6,500 - 8,000 sqft

3

2

44

50

51

0

Thu Jun 02 2022

b d

DOM

2 of 6

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Median Li

A

a, CO

P ice

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend. $700K

$650K

$600K

$550K

$500K

$450K

$400K Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Da A

a

Feb 2021

90-Da A

Jun 2021

Oct 2021

Feb 2022

May 2022

a

Segmen

Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels. $1.0M

$800K

$600K

$400K

$200K Jun 2019

Oct 2019

Feb 2020

T

90-Da

Jun 2020

U

Oct 2020

90-Da

Feb 2021

L

90-Da

Thu Jun 02 2022

Jun 2021

B

Oct 2021

Feb 2022

May 2022

90-Da

3 of 6

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P ice Pe

S

A

a, CO

a e Foo

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels. $275

$250

$225

$200

$175

$150

$125 Jun 2019

Oct 2019

Feb 2020

Jun 2020

7-Da A

Oct 2020

a

Feb 2021

90-Da A

Jun 2021

Oct 2021

Feb 2022

May 2022

a

In en o

Inventory has been climbing lately. Note that rising inventory alone does not signal a weakening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is keeping up with available supply.

800

600

400

200

0 Jun 2019

Oct 2019

Feb 2020

Jun 2020

7-Da A

Oct 2020

a

Feb 2021

90-Da A

Thu Jun 02 2022

Jun 2021

Oct 2021

Feb 2022

May 2022

a

4 of 6

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Ma ke

Single-Family Homes

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Ma ke

A

a, CO

Ac ion Inde

The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we re in a Seller s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer s one, watch for downward pressure on prices.

120

100

80

60

40

20 Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Da A

Ma ke

a

Feb 2021

90-Da A

Jun 2021

Oct 2021

Feb 2022

May 2022

a

Ac ion Segmen

Not surprisingly, all segments in the market are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group.

120

100

80

60

40

20 Jun 2019

Oct 2019

Feb 2020

T

90-Da

Jun 2020

U

Oct 2020

90-Da

Feb 2021

L

90-Da

Thu Jun 02 2022

Jun 2021

Oct 2021

B

90-Da

Feb 2022

May 2022

5 of 6

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Median Da

A

on Ma ke

a, CO

(DOM)

The properties have been on the market for an average of 20 days. Half of the listings have come newly on the market in the past 4 or so days. Watch the 90-day DOM trend for signals of a changing market.

60

50

40

30

20

10

0 Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Da A

a

Feb 2021

90-Da A

Jun 2021

Oct 2021

Feb 2022

May 2022

a

Segmen

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

100

80

60

40

20

0 Jun 2019

Oct 2019

Feb 2020

T

90-Da

Jun 2020

U

Oct 2020

90-Da

Feb 2021

L

90-Da

Thu Jun 02 2022

Jun 2021

Oct 2021

B

90-Da

Feb 2022

May 2022

6 of 6

Ma

741 Sc a

C

,A

1

711 Sc a

3

S ee , A

fP

a, CO 80011 L Id: IR966293 Sa : Ac e 05/20/22 P ce: $529,000 S b e: SFR T S F: 1,621 Bd/B : 4/2 S #: 720-201-1483 a, CO 80011 L Id: IR963512 Sa : Pe d g 05/04/22 P ce: $475,000 S b e: SFR T S F: 1,621 Bd/B : 4/2 S #: 800-746-9464

e

L ca

505 Re e e S ee , A

a, CO 80011 L Id: 6732974 Sa : Ac e 06/02/22 P ce: $450,000 S b e: SFR T S F: 2,520 Bd/B : 4/3 S #: 888-808-0331

508 T c

a, CO 80011 L Id: 7373412 Sa : C ed 05/04/22 P ce: $500,000 S b e: SFR T S F: 2,296 Bd/B : 5/3 S #: 303-573-7469

2

4

S ee , A

Broker 1 Page 741 Scran on Co r , A rora, CO 80011 (S a

: Ac i e, Li

ing ID: IR966293)

Co n : Arapahoe Li Price: $529,000 Proper T pe: Re iden ial Original Li Price: $529,000 Proper S b pe: Single Famil Re idence Le el : One Ba emen : No S r c re T pe: Ho e Year B il : 1954 S bdi i ion Name: Hoffman To n Li ing Con rac Da e: 05/20/2022 Da In MLS: 14 A ocia ion: N M l iple: Co /Re : N A oc Fee To Annl: Ta Ann al Am : $2,415 Ta Year: 2021 Ta Legal De c: N 1/2 LOT 9 ALL 10 BLK 53 HOFFMAN TOWN 6TH FLG In erior Area & SqF 1,621 Li ing Area (SqF Fini hed): 1,621 Abo e Grade Fini hed Area: 1,621 0 Belo Grade Fini hed Area: 0 Belo Grade Unfini hed Area: 0 PSF Fini hed: $326 PSF Abo e Grade: $326 B mn Ceiling H :

B ilding Area To al (SqF To al): Belo Grade To al Area: PSF To al: Ba emen : None Hea ing: Forced Air Cooling: Cen ral Air HVAC De crip ion: Cen ral Air Condi ioning In erior Fea re : Open Floorplan Appliance : Di h a her, Dr er, Micro a e, Refrigera or, Self Cleaning O en, Wa her E cl ion : Seller' per onal proper ie Bed & Ba h S mmar Bedroom To al: 4 Ba hroom To al: 2 Ba h F ll: 1 Ba h Three Q ar er: 1 Ba h Half: 0 Ba h One Q ar er: Parking Parking To al: 0 Garage Space : Off ree Space : Si e & Loca ion Informa ion Lo Si e: 0.20 Acre / 8,712 SqF Wa erfron Fea : Elemen ar School: Si h A en e / Adam -Arapahoe 28J Bldg/Comple Name: Middle/J nior Sch: So h / High School: A rora Cen ral / Adam -Arapahoe 28J B ilding & Wa er Informa ion Con r c ion Ma erial : Wood Frame Roof: Compo i ion E erior Fea re : Wa er Incl ded: Wa er So rce: P blic Se er: P blic Remark To all remodel i h de igner accen hro gho . Thi bea if l brick ranch come i h 4 bedroom , 2 ba hroom i on h ge f ll fenced ard i h lo of ma re ree . Brigh and open, he dining room i a ando i h acid- ained concre e ha lead o he recen l reno a ed ki chen i h grani e co n er op and ainle - eel appliance . Well main ained home i h ne er indo and roof. AC ...

Confiden ial Informa ion Pri a e Remark : SELLER WOULD LIKE OFFERS TO INCLUDE POST OCCUPANCY AGREEMENT TILL 7/30/22.

B er Agenc Comp: 2.80% D al Variable: S bmi ed Pro p: Ye Tran ac ion Broker Comp: 2.80% Con rac Earne Check To: Na ional 1 So rce Po e ion: Con rac Min Earne : $10,000 Li ing Term : Ca h, Con en ional, FHA, VA Loan Ti le Compan : O ner hip: Indi id al Sho ing Informa ion Sho ing Con ac Phone:

720-201-1483

Sho

Email:

No Sho ing Un il: Li

Li Li

Agen : Jolan a Wencel Office: Ven e Real

Email:

Agen Phone: 720-201-1483 Mobile:

r encel1@aol.com No in ended for p blic

e. All da a deemed reliable b IRES LLC 2022.

no g aran eed.

Genera ed on: 06/02/2022 10:39:03 AM

F ll P o e

741 Sc a Pho os

C

,A

a, CO 80011

----

Vie

$529,000 - Active

505 Re ere S ree , A rora, CO 80011 (S a

: Ac i e, Li

ing ID: 6732974)

Co n : Arapahoe Li Price: $450,000 Proper T pe: Re iden ial Original Li Price: $450,000 Proper S b pe: Single Famil Re idence Le el : One Ba emen : Ye S r c re T pe: Ho e Year B il : 1962 S bdi i ion Name: Park Vie E a e Li ing Con rac Da e: 06/02/2022 Da In MLS: 0 A ocia ion: N M l iple: Co /Re : N A oc Fee To Annl: $0.00 Ta Ann al Am : $0 Ta Year: 2021 Ta Legal De c: LOT 21 BLK 5 PARK VIEW ESTATES In erior Area & SqF B ilding Area To al (SqF To al): 2,520 Li ing Area (SqF Fini hed): 2,150 Abo e Grade Fini hed Area: 1,400 Belo Grade To al Area: 1,120 Belo Grade Fini hed Area: 750 Belo Grade Unfini hed Area: 370 PSF To al: $179 PSF Fini hed: $209 PSF Abo e Grade: $321 Ba emen : Fini hed, F ll, S mp P mp B mn Ceiling H : Fo nda ion: Concre e Perime er Fireplace: Hea ing: Forced Air Cooling: Cen ral Air HVAC De crip ion: In erior Fea re : Ceiling Fan( ), Radon Mi iga ion S em, U ili Sink Appliance : Di h a her, Di po al, Dr er, Ga Wa er Hea er, H midifier, Micro a e, O en, Refrigera or, S mp P mp, Wa her Flooring: Carpe , Lamina e, Tile E cl ion : None Bed & Ba h S mmar Bedroom To al: 4 Ba hroom To al: 3 Ba h F ll: 1 Ba h Three Q ar er: 2 Ba h Half: 0 Ba h One Q ar er: 0 Parking Parking To al: 2 Garage Space : 2 Off ree Space : 0 Si e & Loca ion Informa ion Lo Si e: 0.22 Acre / 9,496 SqF Wa erfron Fea : Lo Fea re : Sprinkler In Fron , Sprinkler In Rear Hor e: No Ski Fea re : Elemen ar School: Si h A en e / Adam -Arapahoe 28J Bldg/Comple Name: Middle/J nior Sch: So h / Adam -Arapahoe 28J High School: A rora Cen ral / Adam -Arapahoe 28J B ilding & Wa er Informa ion Direc ion Face : Ea Vie : Con r c ion Ma erial : Brick Roof: Compo i ion E erior Fea re : Pri a e Yard Wa er Incl ded: Ye Wa er So rce: P blic Se er: P blic Se er P blic Remark LOCATION, LOCATION, LOCATION!! Ligh , brigh and con enien l loca ed home in de irable Park Vie E a e ! Thi 1962 mid-cen r ranch le home boa an open floor plan. The main floor ha a li ing room, dining room, ki chen i h grea ork pace, 3 bedroom and 2 ba hroom . The ba emen i onderf ll fini hed a ell i h a rec room, 4 h bedroom, 3/4 ba h, grea orage and a large ili r...

Confiden ial Informa ion Pri a e Remark : Sho ing begin 6/3/22. Offer d e b Monda 6/6/22 b 10am, plea e make accep ance deadline 6/7/22 a 5pm. Thi i a corpora e ale and no e cep ion ill be made o he imeline. D e o corpora e o ner hip, hi proper i eeking an "AS-IS" ale. Plea e link con rac in CTMeCon rac .

Proper c rren l o ned b a non-profi and proper a e are $0. B er o erif all informa ion incl di B er Agenc Comp: 2.5% D al Variable: No S bmi ed Pro p: No Tran ac ion Broker Comp: 2.5% Con rac Earne Check To: Land Ti le G aran ee Compan Po e ion: Clo ing/DOD Con rac Min Earne : $5,000 Li ing Term : 1031 E change, Ca h, Con en ional, FHA, VA Loan Ti le Compan : Land Ti le G aran ee Compan - Wend Han on O ner hip: Corpora ion/Tr Sho ing Informa ion Sho ing Ser ice: Sho ing Con ac Phone:

BrokerBa 888-808-0331

Sho

Email:

No Sho ing Un il: 06/03/22 Li

Li Li

Agen : Eli abe h Gib on Office: Keller William Real

Email:

LLC

Agen Phone: 720-849-3577 Mobile: 720-849-3577

Be h@Be hGib onHome .com No in ended for p blic

e. All da a deemed reliable b REcolorado 2022.

no g aran eed.

Genera ed on: 06/02/2022 10:39:03 AM

505 R Pho os

S

,A

a, CO 80011

----

$450,000 - Active

711 Sc a Pho os

S

,A

a, CO 80011

----

$475,000 - Pending

508 T c Pho os

S

,A

a, CO 80011

----

$500,000 - Closed

711 Scran on S ree , A rora, CO 80011 (S a

: Pending B/U, Li

Co n : Arapahoe Proper T pe: Re iden ial Proper S b pe: Single Famil Re idence Le el : One S r c re T pe: Ho e S bdi i ion Name: Hoffman Li ing Con rac Da e: 04/21/2022 P rcha e Con rac Da e: 05/04/2022 Accep ing Back p : Ye Da In MLS: 43 A ocia ion: N M l iple: Co /Re : N Ta Ann al Am : Ta Legal De c: Lo 21, Blk 48, Hoffman To In erior Area & SqF 1,621 Li ing Area (SqF Fini hed): 1,621 0 Belo Grade Fini hed Area: 0 PSF Fini hed: $293 B mn Ceiling H :

Li Price: Original Li

ing ID: IR963512) Price:

Ba emen : Year B il :

$475,000 $495,000 No 1954

Con ingenc : A oc Fee To Annl: Ta Year: n 6 h Flg

2021

B ilding Area To al (SqF To al): Abo e Grade Fini hed Area: 1,621 Belo Grade To al Area: Belo Grade Unfini hed Area: 0 PSF To al: PSF Abo e Grade: $293 Ba emen : None Hea ing: Forced Air In erior Fea re : Ea -in Ki chen, No S air Appliance : Di h a her, Di po al, O en, Refrigera or, Self Cleaning O en Flooring: Lamina e E cl ion : All aging i em Bed & Ba h S mmar Bedroom To al: 4 Ba hroom To al: 2 Ba h F ll: 2 Ba h Three Q ar er: 0 Ba h Half: 0 Ba h One Q ar er: Parking Parking To al: 2 Garage Space : Off ree Space : 2 Si e & Loca ion Informa ion Lo Si e: 0.19 Acre / 8,276 SqF Wa erfron Fea : Elemen ar School: Si h A en e / Adam -Arapahoe 28J Bldg/Comple Name: Middle/J nior Sch: So h / High School: A rora Cen ral / Adam -Arapahoe 28J B ilding & Wa er Informa ion Con r c ion Ma erial : Brick Roof: Compo i ion E erior Fea re : Wa er Incl ded: Wa er So rce: P blic Se er: P blic Se er P blic Remark Gorgeo all brick ranch, re i ali ed from op o bo om! Thi home i mo e in read and here' no need o orr abo high ili bill ince i ha been o fi ed i h a brand NEW FURNACE AND WINDOWS! O her pda e incl de fre h hi e pain hro gho , crea ing a clean can a for he ne o ner, ne modern flooring, li h ligh fi re and comple el reno a ed ba hroom . The ki chen i n...

Confiden ial Informa ion Pri a e Remark : Send all inq ire /q e ion o: home @pre igiocolorado.com. *Plea e incl de he follo ing in addi ional pro i ion: B er ackno ledge li ing agen , L ke Angerhofer, i a principal in he elling en i , Grail Capi al, LLC. Grail Capi al. LLC and Pre igio Real E a e LLC are affilia ed companie and ei her ma benefi financiall from hi ran ac ion.

B er Agenc Comp: 2.80% D al Variable: S bmi ed Pro p: No Tran ac ion Broker Comp: 2.80% Con rac Earne Check To: Fir American Ti le Po e ion: Clo ing/DOD Con rac Min Earne : $5,000 Li ing Term : Ca h, Con en ional, FHA, VA Loan Ti le Compan : O ner hip: Agen O ner Sho ing Informa ion Sho ing Con ac Phone:

800-746-9464

Sho

Email:

No Sho ing Un il: Li

Li Li

Agen : L ke Angerhofer Office: Pre igio Real E a e

Email:

home @pre

Agen Phone: 303-898-2589 Mobile: 303-898-2589

igiocolorado.com No in ended for p blic

e. All da a deemed reliable b IRES LLC 2022.

no g aran eed.

Genera ed on: 06/02/2022 10:39:03 AM

508 T c on S ree , A rora, CO 80011 (S a

: Clo ed, Li

Co n : Arapahoe Proper T pe: Re iden ial Proper S b pe: Single Famil Re idence Le el : One S r c re T pe: Ho e S bdi i ion Name: Graham Li ing Con rac Da e: 03/24/2022 P rcha e Con rac Da e: 04/05/2022 Clo e Da e (DIM): 05/04/2022 Da In MLS: 5 A ocia ion: N M l iple: Co /Re : N Ta Ann al Am : $2,547 Ta Legal De c: Lo 8 BLK 10 Graham S b In erior Area & SqF 2,296 Li ing Area (SqF Fini hed): 1,148 1,148 Belo Grade Fini hed Area: 0 $218 PSF Fini hed: $436 B mn Ceiling H :

ing ID: 7373412)

Clo e Price: Li Price: Original Li Price:

$500,000 $450,800 $450,800

Ba emen : Year B il :

Ye 1962

Con ingenc :

None Kno n

A oc Fee To Annl: Ta Year:

$0.00 2021

B ilding Area To al (SqF To al): Abo e Grade Fini hed Area: 1,148 Belo Grade To al Area: Belo Grade Unfini hed Area: 1,148 PSF To al: PSF Abo e Grade: $436 Ba emen : F ll Hea ing: Forced Air Cooling: None HVAC De crip ion: Appliance : Di h a her, Di po al, O en, Refrigera or Flooring: Carpe , Lamina e E cl ion : Seller' Per onal proper Bed & Ba h S mmar Bedroom To al: 5 Ba hroom To al: 3 Ba h F ll: 1 Ba h Three Q ar er: 1 Ba h Half: 1 Ba h One Q ar er: 0 Parking Parking To al: 1 Garage Space : 1 Off ree Space : 0 Si e & Loca ion Informa ion Lo Si e: 0.37 Acre / 15,943 SqF Wa erfron Fea : Elemen ar School: Si h A en e / Adam -Arapahoe 28J Bldg/Comple Name: Middle/J nior Sch: So h / Adam -Arapahoe 28J High School: A rora Cen ral / Adam -Arapahoe 28J B ilding & Wa er Informa ion Con r c ion Ma erial : Brick, Frame Roof: Compo i ion E erior Fea re : Wa er Incl ded: Ye Wa er So rce: Se er: P blic Se er P blic Remark Nice Ranch Ho e i h F ll ba emen . Grea La -o . Ne er pain and flooring. Look pa he cl er and ee he po en ial. O er 15,000 f lo . Elderl Seller pre en in he ho e. Wear Ma k.

Confiden ial Informa ion Pri a e Remark : More han 1/3 acre lo . H ge Back ard. Imagine he po ibili ie ! Agen e CTMe. Ho e ill be Open for Sho ing S nda , April 3, 1 o 3PM onl .

B er Agenc Comp: 2.5% D al Variable: No S bmi ed Pro p: No Tran ac ion Broker Comp: 2.5% Li Li Li

Agen : John O iedo Office: HomeSmar

Email: johno iedo@comca Co Li Agen : John O iedo Co Li Office: HomeSmar Email:

.ne Phone: 720-771-0217 Mobile: 720-771-0217

johno iedo@comca

.ne

B

B er Agen : E ela Konc ik B er Office: Re iden Real So h Me ro Email: ekonc ik@re iden real .com Conce ion : B er Clo ing Co B er Financing: FHA

Agen Phone: 720-771-0217 Mobile: 720-771-0217

/Seller Poin

Paid, $1,500

No in ended for p blic

er Agen Phone: 720-394-6854 Mobile: 720-394-6854

Clo e Informa ion

e. All da a deemed reliable b REcolorado 2022.

no g aran eed.

Genera ed on: 06/02/2022 10:39:03 AM

Property Type is 'Residential' Mls Status is one of 'Active', 'Coming Soon', 'Pending' Mls Status is 'Closed' Status Contractual Search Date is 06/02/2022 to 05/03/2022 Latitude, Longitude is

within 0.25 mi of 12960 E 7th Ave, Aurora, CO 80011, USA Originating System Name is one of 'REcolorado', 'ROCC', 'SSBR', 'IRES*'

Residential Active Properties Bds

Bths

Abv

Ttl

Fin

List

PSF Abv

PSF Ttl

Aurora

4

3

1,400

2,520

2,150

06/02/22

$321

$179

Aurora

4

2

1,621

1,621

1,621

05/20/22

$326

Averages:

1,511

2,071

1,886

Listing ID Address

City

6732974 505 Revere ST IR966293 741 Scranton CT

Count: 2

High $529,000

List Price:

$324

PSF Fin DIM Orig Price

$209

450,000

$450,000

14 7

529,000

$529,000

$489,500

$489,500

PSF Fin DIM Orig Price

List Price

$326 $179

Low $450,000

List Price

0

$268

Median $489,500

Pending Properties Listing ID Address

City

IR963512 711 Scranton ST

Aurora

Bds

Bths

Abv

Ttl

Fin

Pending

PSF Abv

4

2

1,621

1,621

1,621

05/04/22

$293

$293

Averages:

1,621

1,621

1,621

$293

$293

Count: 1

High $475,000

List Price:

PSF Ttl

Low $475,000

43 43

495,000

$475,000

$495,000

$475,000

Median $475,000

Closed Properties Listing ID Address

City

7373412 508 Tucson ST

Aurora Count: 1

Bds

5

Bths

Abv

Ttl

Fin

Close

PSF Abv

PSF Ttl

3

1,148

2,296

1,148

05/04/22

$436

$218

$436

Averages:

1,148

2,296

1,148

$436

$218

$436

Closed Price:

Report Totals

Presented By: Holly Vogel Generated on: 06/02/2022

Count : 4

Averages:

High $500,000

SqFt Abv 1,448

SqFt Ttl 2,015

Low $500,000 Sqft Fin 1,635

PSF Abv $ 344

PSF Fin DIM Orig Price

5 5

List Price Close Price

CP/OLP

450,800

$450,800 $500,000

111%

$450,800

$450,800 $500,000

111%

Orig Price $481,200

List Price Close Price $476,200 $500,000

CP/OLP 111 %

Median $500,000 PSF Ttl

$198

All data deemed reliable but not guaranteed.

Copyright REcolorado © 2022. All rights reserved.

REcolorado.com

PSF Fin $316

CMA 1-Line Page 1 of 1

at Keller Williams Integrity

INTELLIGENT PRICING & TIMING Pricing a home for sale is as much art as science, but there are a few truisms that never change. ☐ ☐ ☐

Fair market value attracts buyers, overpricing never does.

The market never lies, but it can change its mind.

ASKING PRICE

PERCENTAGE OF BUYERS

+15%

10%

+10%

30%

Market Value

60%

-10%

75%

-15%

90%

Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home. Values can be impacted by a wide range of reasons but the two largest are location and condition. Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area.

Sellers often view their homes as special which tempts them to put a higher price on the home, believing they can always come down later, but that’s a serious mistake.

Overpricing prevents the very buyers who are eligible to buy the home from ever seeing it. Most buyers shop by price range, and look for the best value in that range.

ACTIVITY

at Keller Williams Integrity

1

2

3

4

5

6

TIME ON MARKET (IN WEEKS)

and exciting to buyers and to their agents.

With a sign in the yard, a description in the local Multiple Listing Service, distribution across the internet, open houses, broker’s caravan, ads, and email blasts to your listing agent’s buyers, your If you don’t get many showings or offers, you’ve probably overpriced your home, and it’s not comparing well to the competition. Since you can’t change the location, you’ll have to improve the home’s condition or lower the price.

Consult with your agent and ask for feedback. Perhaps you can do a little more to spruce up your home’s curb appeal, or perhaps stage the interior to better advantage.

The market can always change its mind and give your home another chance, but by then you’ve lost precious time and perhaps allowed a stigma to cloud your home’s value.

Intelligent pricing isn’t about getting the most for your home – it’s about getting your home sold quickly at fair market value.

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