at Keller Williams Integrity
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Denver, CO
This week the median list price for Denver, CO is $730,000 with the market action index hovering around 81. This is less than last month's market action index of 90. Inventory has increased to 797.
Real-Time Market Profile Median List Price
$730,000
Market Action Index
Median Price of New Listings
$675,000
This answers “How’s the Market?” by comparing rate of sales versus
Per Square Foot
$372
Average Days on Market
28
Median Days on Market
14
Price Decreased
43%
Price Increased
3%
Relisted
5%
Inventory
797
Median Rent
$2,800
Market Action
81
inventory. 50
40
Buyer's Market
60
Seller's Market
70
100
10 0
on
81
90
M
ay Tod th
Las t
80
20
30
Strong Seller's Market The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Strong Seller's Market
Market Segments Each segment below represents approximately 25% of the market ordered by price. Median Price
Sq. Ft.
Lot Size
Beds
Bath
Age
New
Absorbed
DOM
$1,525,000
3,758
4,500 - 6,500 sqft
4
4
64
30
43
21
$845,000
2,277
4,500 - 6,500 sqft
4
3
73
43
41
21
$639,900
2,024
4,500 - 6,500 sqft
3
2
65
36
46
14
$480,500
1,310
6,500 - 8,000 sqft
3
2
67
56
66
14
Mon Jul 11 2022
2 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Denver, CO
Median List Price
The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels. $850K $800K $750K $700K $650K $600K $550K $500K Jul 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
90-Day Average
Segments
Prices have generally settled at a plateau, although Quartile 1 has been trending a bit downward in recent weeks. We’ll need to see a persistent shift in the Market Action Index before we see prices across the board move from these levels. $2.5M
$2.0M
$1.5M
$1.0M
$500K
$0 Jul 2019
Dec 2019
Apr 2020
Top 90-Day
Aug 2020
Dec 2020
Upper 90-Day
Apr 2021
Lower 90-Day
Mon Jul 11 2022
Aug 2021
Dec 2021
Apr 2022
Bottom 90-Day
3 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Denver, CO
Price Per Square Foot
While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers can see more home for their money. $425
$400
$375
$350
$325
$300
$275 Jul 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
90-Day Average
Inventory
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. 2K
1K
1K
750
500
250
0 Jul 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
90-Day Average
Mon Jul 11 2022
4 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Denver, CO
Market Action Index
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices. 120
100
80
60
40
20 Jul 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
90-Day Average
Market Action Segments
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 Jul 2019
Dec 2019
Apr 2020
Top 90-Day
Aug 2020
Dec 2020
Upper 90-Day
Apr 2021
Lower 90-Day
Mon Jul 11 2022
Aug 2021
Dec 2021
Apr 2022
Bottom 90-Day
5 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Denver, CO
Median Days on Market (DOM)
The properties have been on the market for an average of 24 days. Half of the listings have come newly on the market in the past 8 or so days. Watch the 90-day DOM trend for signals of a changing market. 80
60
40
20
0 Jul 2019
Dec 2019
Apr 2020
Aug 2020
Dec 2020
7-Day Average
Apr 2021
Aug 2021
Dec 2021
Apr 2022
90-Day Average
Segments
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. 125
100
75
50
25
0 Jul 2019
Dec 2019
Apr 2020
Top 90-Day
Aug 2020
Dec 2020
Upper 90-Day
Apr 2021
Lower 90-Day
Mon Jul 11 2022
Aug 2021
Dec 2021
Apr 2022
Bottom 90-Day
6 of 6
3713 Wolff St, Denver, CO 80212-2035, Denver County APN: 2302-02-046
Expired Listing
CLIP: 2342271784
MLS Beds 2
MLS Full Baths 1
Half Baths N/A
Sale Price $343,000
MLS Sq Ft 718
Lot Sq Ft 3,000
Yr Built 1955
Type SFR
Sale Date 05/13/2019
OWNER INFORMATION
Owner Name
Penvari Vallanie Jane
Mailing ZIP 4
2035
Mailing Address
3713 Wolff St
Mailing Carrier Route
C043
Mailing City & State
Denver, CO
Owner Occupied
Yes
Mailing Zip
80212
LOCATION INFORMATION
Property Zip
80212
Topography
Flat/Level
Property Zip4
2035
Neighborhood Code
W Highland-0240
Property Carrier Route
C043
Neighborhood Name (OnBoard)
West Highland
School District
Denver County 1
Traffic
Local
Elementary School
Edison
Township
03S
Middle School
Strive Sunnyside
Range
68W
High School
North
Section
30
Subdivision
Cottage Hill Gardens
Quarter
NW
Zoning
U-SU-C
Block
2
Census Tract
3.02
Lot
5
PIN
2302-02-046
% Improved
36%
Schedule Number
0230202046000
Tax District
DENV
Legal Description
COTTAGE HILL GARDENS B2 WL Y 50FT OF ELY 172.15FT OF N 60F T OF PLOT-5
TAX INFORMATION
ASSESSMENT & TAX
Assessment Year
2021
2020
2019
Market Value - Land
$221,500
$221,500
$193,800
Market Value - Improved
$122,000
$122,100
$116,600
Market Value - Total
$343,500
$343,600
$310,400
Assessed Value - Land
$15,840
$13,860
$13,860
Assessed Value - Improved
$8,720
$8,340
$8,340
Assessed Value - Total
$24,560
$22,200
$22,200
YOY Assessed Change (%)
10.63%
0%
YOY Assessed Change ($)
$2,360
$0
Tax Year
Total Tax
Change ($)
Change (%)
2019
$1,601
2020
$1,647
$46
2.88%
2021
$1,833
$186
11.26%
CHARACTERISTICS
Lot Acres
0.0689
Total Rooms
4
Lot Sq Ft
3,000
Bedrooms
2
Land Use - County
Single Family Resident
Baths - Total
1
Land Use - CoreLogic
SFR
MLS Total Baths
1
Year Built
1955
Baths - Full
1
Bldg Sq Ft - Above Ground
718
Stories
1
Bldg Sq Ft - Total
718
Heat Type
Warm Air
Bldg Sq Ft - Finished
718
Garage Type
Parking Avail
Bldg Sq Ft - 1st Floor
718
Exterior
Brick
Basement Type
Crawl
Quality
Average
# Buildings
1
FEATURES
Feature Type Property Details
Size/Qty Courtesy of Kyle Gephart, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 07/11/22 Page 1/3
Conc Paving
528
SELL SCORE
Rating
Low
Sell Score
443
Value As Of
2022-07-10 07:06:08
LISTING INFORMATION
MLS Listing Id
6877388
MLS Current Price
$500,000
MLS Days On Market
66
MLS Original List Price
$545,000
MLS Source
REcolorado
MLS Listing Contract Date
04/08/2022
MLS Status
Expired
MLS List Office Name
REDFIN CORPORATION
MLS Status Change Date
07/05/2022
MLS List Agent Full Name
049405-James Ayala
MLS Listing #
7335205
7281033
MLS Source History
REcolorado
REcolorado
MLS Status
Closed
Closed
MLS Listing Price
$350,000
$267,500
MLS Orig Listing Price
$350,000
$267,500
MLS Listing Close Price
$343,000
$250,000
MLS Listing Date
03/27/2019
08/13/2015
MLS Close Date
05/13/2019
11/13/2015
LAST MARKET SALE & SALES HISTORY
Sale Date
05/13/2019
Deed Type
Warranty Deed
Sale Price
$343,000
Owner Name
Penvari Vallanie Jane
Price per SqFt - Finished
$477.72
Seller
Barton Travis J
Document Number
58701
Sale Date
05/13/2019
11/13/2015
Sale Price
$343,000
$250,000
Penvari Vallanie J
Barton Travis J
Nominal
Y
Buyer Buyer
Equable Inv Corp
Polocz Robert C Jr
Mead Marilyn W
Seller
Barton Travis J
Equable Investment Corpor atin
Owner Record
Owner Record
Document Number
58701
160802
97596
118306
Document Type
Warranty Deed
Warranty Deed
Deed In Lieu Of Foreclosure
Deed (Reg)
Title Company
Other
Heritage Title Co.
Multi/Split Sale Type
Multi
MORTGAGE HISTORY
Mortgage Date
05/14/2019
11/17/2015
02/04/2013
01/29/2010
09/20/2007
Mortgage Amount
$325,850
$237,500
$105,000
$504,080
$144,461
Mortgage Lender
Navy Fcu
New American Fndg
Firstbank Southwest
Bank Of Choice (Arvad a-52nd)
Equable Inv Corp/Color ao
Borrower
Penvari Vallanie J
Barton Travis J
Equable Inv Corp
Equable Inv Corp
Polocz Robert C Jr
Borrower
Mead Marilyn W
Mortgage Type
Conventional
Conventional
Conventional
Conventional
Mortgage Purpose
Resale
Resale
Refi
Refi
Mortgage Int Rate Type
Construction
Adjustable Int Rate Loa n
Mortgage Term
30
30
1
Mortgage Term
Years
Years
Years
Title Company
Property Details
Vista Title Inc
Courtesy of Kyle Gephart, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 07/11/22 Page 2/3
PROPERTY MAP
*Lot Dimensions are Estimated
Property Details
Courtesy of Kyle Gephart, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 07/11/22 Page 3/3
Map of Property Locations
4614 W 35th Avenue, Denver, CO 80212 Listing Id: 2169635 Status: Closed 03/22/22 Price: $510,000 1 Subtype: CON Ttl SqFt: 746 Bd/Bth: 2/1 Show #: 800-746-9464 4818 W 36th Avenue, Denver, CO 80212 Listing Id: 3705498 Status: Closed 04/27/22 Price: $550,000 3 Subtype: SFR Ttl SqFt: 1,588 Bd/Bth: 2/1 Show #:
4632 W 36th Avenue, Denver, CO 80212 Listing Id: 9131214 Status: Closed 05/04/22 Price: $535,000 Subtype: MLF 2 Ttl SqFt: 767 Bd/Bth: 2/1 Show #:
Broker 1 Page 4614 W 35th Avenue, Denver, CO 80212 (Status: Closed, Listing ID: 2169635) Close Price: $510,000 County: Denver List Price: $450,000 Property Type: Residential Original List Price: $450,000 Property Subtype: Condominium Levels: One Basement: No Structure Type: Patio/Cluster Year Built: 1953 Subdivision Name: West Highland Listing Contract Date: 02/25/2022 Purchase Contract Date: 02/28/2022 Contingency: None Known Close Date (DIM): 03/22/2022 Days In MLS: 3 Association: Y Multiple: N Cov/Rest: Y Assoc Fee Tot Annl: $3,000.00 Tax Annual Amt: $1,834 Tax Year: 2020 Tax Legal Desc: COTTAGE HILL CONDOS U-4614 GAR-4614 Interior Area & SqFt Building Area Total (SqFt Total): 746 Living Area (SqFt Finished): 746 Above Grade Finished Area: 746 PSF Total: $684 PSF Finished: $684 PSF Above Grade: $684 Basement: Crawl Space, Exterior Entry Bsmnt Ceiling Ht: Foundation: Raised Fireplace: Heating: Forced Air Cooling: Central Air HVAC Description: Interior Features: Built-in Features, No Stairs, Smart Thermostat, Smoke Free, Tile Counters Appliances: Dishwasher, Disposal, Dryer, Gas Water Heater, Microwave, Oven, Range, Refrigerator, Washer Flooring: Wood Furnished: Unfurnished Exclusions: Seller's Personal Property and Staging Items Bed & Bath Summary Bedrooms Total: 2 Bathrooms Total: 1 Baths Full: 1 Baths Three Quarter: 0 Baths Half: 0 Baths One Quarter: 0 Parking Parking Total: 1 Garage Spaces: 1 Offstreet Spaces: 0 Association Information Assoc 1 Fee/Frequency: $250.00 Monthly Assoc 2 Fee/Frequency: Assoc 3 Fee/Frequency: Assoc Fee Incl: Insurance, Maintenance Grounds, Maintenance Structure, Sewer, Trash, Water Assoc Amenities: Senior Community: No Restriction Covenants: Other Pets Allowed: Cats OK, Dogs OK Rentals Allowed: Site & Location Information Lot Size: 0.24 Acres / 10,313 SqFt Waterfront Feat: Elementary School: Edison / Denver 1 Bldg/Complex Name: Cottage Hill Condos Middle/Junior Sch: Skinner / Denver 1 High School: North / Denver 1 Building & Water Information Architectural Style: Mid-Century Modern Entry Level/Loc: Ground Common Walls: Unit Count: 4 Direction Faces: North View: Construction Materials: Brick, Concrete, Stucco Roof: Composition Exterior Features: Garden, Private Yard Water Included: Water Source: Public Sewer: Public Sewer Public Remarks Perched high out of street view sits the sweetest mid-century townhome on one of the premiere streets in West Highland. Charm abounds with the coved ceilings, arched doorways, glass block windows and original built-ins. A private back yard awaits with direct access into an oversized, detached one-car garage. In the Spring, this space is lush with white hydrangeas and pink roses. The bright and spa... Confidential Information Private Remarks: *Please note: The Seller IS the current HOA Manager.* **Getting a LOT of Qs about STRs, so I want to outline response from the Seller here: "STR is allowed. (Obviously, in accordance with City of Denver rules/regulations.) I actually used to AirBnB it when I traveled a lot for work. Though, I believe it is up to the HOA to have the right to vote and for all 4 units to agree it's okay."** Check Buyer Agency Comp: 2.8% Dual Variable: No Submitted Prosp: No Transaction Broker Comp: 2.8%
List Agent: Kimberly Moorhead List Office: Wanderflower & Company Email:
kimberly@wanderflowerandco.com
Buyer Agent: Will Davis Buyer Office: Fathom Realty Colorado LLC Email:
will@willdavishomes.com
Concessions: Other, $2,500 Buyer Financing: Conventional
List Agent Phone: 303-502-6206 Mobile: 303-502-6206 Buyer Agent Phone: 720-507-5808 Mobile: 720-507-5808 Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 07/11/2022 12:22:34 PM
Full Property View
4614 W 35th Avenue, Denver, CO 80212
----
$510,000 - Closed
4632 W 36th Avenue, Denver, CO 80212 (Status: Closed, Listing ID: 9131214) Close Price: $535,000 County: Denver List Price: $525,000 Property Type: Residential Original List Price: $525,000 Property Subtype: Multi-Family Levels: One Basement: No Structure Type: Townhouse Year Built: 1952 Subdivision Name: Cottage Hill Listing Contract Date: 04/06/2022 Purchase Contract Date: 04/10/2022 Contingency: None Known Close Date (DIM): 05/04/2022 Days In MLS: 4 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: $0.00 Tax Annual Amt: $1,908 Tax Year: 2020 Tax Legal Desc: COTTAGE HILL LAND COMPANY'S ADD TO COTTAGE HILL PART OF LOTS 239, 240 & 241 DAF BEG NE COR L241 W 3.04FT TO TPOB; TH SLY 28.95FT ELY 8.0FT SLY 27.85FT ELY 20.10FT SLY 24.65FT WLY Interior Area & SqFt Building Area Total (SqFt Total): 767 Living Area (SqFt Finished): 767 Above Grade Finished Area: 767 PSF Total: $698 PSF Finished: $698 PSF Above Grade: $698 Basement: Crawl Space Bsmnt Ceiling Ht: Heating: Forced Air Cooling: None HVAC Description: Interior Features: Ceiling Fan(s) Appliances: Dishwasher, Disposal, Dryer, Microwave, Oven, Range, Washer Flooring: Tile, Wood Exclusions: Tenants personal belongings. Bed & Bath Summary Bedrooms Total: 2 Bathrooms Total: 1 Baths Full: 1 Baths Three Quarter: 0 Baths Half: 0 Baths One Quarter: 0 Parking Parking Total: 1 Garage Spaces: 1 Offstreet Spaces: 0 Site & Location Information Lot Size: 0.08 Acres / 3,282 SqFt Waterfront Feat: Lot Features: Near Public Transit Elementary School: Edison / Denver 1 Bldg/Complex Name: Middle/Junior Sch: Strive Sunnyside / Denver 1 High School: North / Denver 1 Building & Water Information Entry Level/Loc: Ground Common Walls: Construction Materials: Brick Roof: Composition Exterior Features: Fire Pit, Garden, Private Yard Water Included: Water Source: Public Sewer: Public Sewer Public Remarks Adorable half-duplex located in the west highlands neighborhood with quick access to all that Tennyson has to offer. Hardwoods throughout, with lots of natural light. Kitchen and bathroom updated in the last 5 years. The large living room gets a lot of light from the large picture window in the front of the house and the large dining room window. This is a great house for all of your plants! The k... Confidential Information Private Remarks: In the event of multiple offers, all offers will be due by 4pm on Sunday, April 10th with an acceptance deadline of Monday, April 11th at 5pm. Seller does reserve the right to accept an offer at any time. Buyer Agency Comp: 2.8% Dual Variable: No Submitted Prosp: No Transaction Broker Comp: 2.8%
List Agent: Sarah Clark List Office: Kentwood Real Estate City Properties Email:
SarahClark@Kentwoodcity.com
Buyer Agent: Amy Glen Buyer Office: Your Castle Real Estate Inc Email: amy@homewithimpact.com Co Buyer Agent: iMPACT Team Co Buyer Office: Your Castle Real Estate Inc Email: Concessions: No Buyer Financing: Conventional
List Agent Phone: 720-666-4572 Mobile: 720-666-4572 Buyer Agent Phone: 303-505-6794 Mobile: 303-505-6794 Phone: 303-962-4272 Mobile: Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 07/11/2022 12:22:34 PM
4632 W 36th Avenue, Denver, CO 80212
----
$535,000 - Closed
4818 W 36th Avenue, Denver, CO 80212 (Status: Closed, Listing ID: 3705498) Close Price: $550,000 County: Denver List Price: $550,000 Property Type: Residential Original List Price: $550,000 Property Subtype: Single Family Residence Levels: Basement: Structure Type: House Year Built: Subdivision Name: Cottage Hill Listing Contract Date: Purchase Contract Date: Contingency: Close Date (DIM): 04/27/2022 Days In MLS: 0 Association: Multiple: Cov/Rest: Assoc Fee Tot Annl: $0.00 Tax Annual Amt: $2,625 Tax Year: 2021 Tax Legal Desc: L 260 & 261 COTTAGE HILL LAND COS ADD TO COTTAGE HILL Interior Area & SqFt Building Area Total (SqFt Total): 1,588 Living Area (SqFt Finished): 1,095 Above Grade Finished Area: 1,095 Below Grade Total Area: 493 Below Grade Finished Area: 0 Below Grade Unfinished Area: 493 PSF Total: $346 PSF Finished: $502 PSF Above Grade: $502 Exclusions: Seller's personal property. Bed & Bath Summary Bedrooms Total: 2 Bathrooms Total: 1 Baths Full: Baths Three Quarter: Baths Half: Baths One Quarter: Parking Parking Total: 1 Garage Spaces: 1 Offstreet Spaces: 0 Site & Location Information Lot Size: 0.13 Acres / 5,800 SqFt Waterfront Feat: Building & Water Information Public Remarks Sale between seller and neighbor. Average condition. No recent kitchen or bath updates. Furnace needed and no AC or EC. Input for neighborhood comp info only. Confidential Information Buyer Agency Comp: $3500 Dual Variable: Submitted Prosp:
List Agent: Robin Sawyer List Office: RE/MAX ALLIANCE Email:
ROBINSAWYER@REMAX.NET
Buyer Agent: Robin Sawyer Buyer Office: RE/MAX ALLIANCE Email:
ROBINSAWYER@REMAX.NET
Concessions: No Buyer Financing: Conventional
List Agent Phone: 303-929-3000 Mobile: 303-929-3000 Buyer Agent Phone: 303-929-3000 Mobile: 303-929-3000 Close Information
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 07/11/2022 12:22:34 PM
4818 W 36th Avenue, Denver, CO 80212
----
$550,000 - Closed
Property Type is 'Residential' Mls Status is one of 'Active', 'Coming Soon', 'Pending' Mls Status is 'Closed' Status Contractual Search Date is 07/11/2022 to 01/12/2022 Beds Total is 2 Baths Total Integer is 1 Originating System Name is one of 'REcolorado', 'ROCC', 'SSBR', 'IRES*' Latitude, Longitude is within 0.24 mi of 3713 Wolff St, Denver, CO 80212, USA
Residential Closed Properties Bds
Bths
Abv
Ttl
Fin
Close
PSF Abv
PSF Ttl
Denver
2
1
746
746
746
03/22/22
$684
$684
$684
9131214 4632 W 36th AVE
Denver
2
1
767
767
767
05/04/22
$698
$698
3705498 4818 W 36th AVE
Denver
2
1
1,095
1,588
1,095
04/27/22
$502
Averages:
869
1,034
869
$628
Listing ID Address
City
2169635 4614 W 35th AVE
Count: 3
Closed Price:
Report Totals
Presented By: Kyle Gephart Generated on: 07/11/2022
Count : 3
Averages:
High $550,000
SqFt Abv 869
SqFt Ttl 1,034
PSF Abv $ 628
List Price Close Price
CP/OLP
3
450,000
$450,000 $510,000
113%
$698
4
525,000
$525,000 $535,000
102%
$346
$502
$550,000 $550,000
100%
$628
0 2
550,000
$576
$508,333
$508,333 $531,667
105%
Orig Price $508,333
List Price Close Price $508,333 $531,667
CP/OLP 105 %
Low $510,000 Sqft Fin 869
PSF Fin DIM Orig Price
Median $535,000 PSF Ttl
$576
All data deemed reliable but not guaranteed. Copyright REcolorado © 2022. All rights reserved. REcolorado.com
PSF Fin $628
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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