Home Analysis

at Keller Williams Integrity

Single-Family Homes

The Bartic Group's Market Report www.TheBarticGroup.com

Arvada, CO

This week the median list price for Arvada, CO is $700,000 with the market action index hovering around 91. This is less than last month's market action index of 93. Inventory has increased to 132.

Real-Time Market Profile Median List Price

$700,000

Market Action Index

Median Price of New Listings

$650,000

This answers “How’s the Market?” by comparing rate of sales versus

Per Square Foot

$279

Average Days on Market

25

Median Days on Market

7

Price Decreased

34%

Price Increased

4%

Relisted

7%

Inventory

132

Median Rent

$2,595

Market Action

91

inventory.

50

40

Buyer's Market

60

Seller's Market

70

100

10 0

on

91

90

M

ay Tod th

Las t

80

20

30

Strong Seller's Market The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

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

$1,395,000

4,264

0.25 - 0.5 acre

4

4

9

4

4

28

$815,000

3,312

6,500 - 8,000 sqft

4

3

40

7

9

14

$650,000

2,278

6,500 - 8,000 sqft

4

3

50

15

9

7

$540,000

1,716

8,000 - 10,000 sqft

3

2

58

17

11

7

Thu Jun 02 2022

2 of 6

Single-Family Homes

The Bartic Group's Market Report www.TheBarticGroup.com

Arvada, CO

Median List Price

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend. $1.2M

$1.0M

$800K

$600K

$400K Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Day Average

Feb 2021

Jun 2021

Oct 2021

Feb 2022

May 2022

90-Day Average

Segments

Price weakness is visible almost across the board. Prices in Quartile 4 have been mixed recently, while the rest of the market is trending downward. Look to a strong, persistent up shift in the Market Action Index as a leading indicator of the trough in the market. $2.5M

$2.0M

$1.5M

$1.0M

$500K

$0 Jun 2019

Oct 2019

Feb 2020

Top 90-Day

Jun 2020

Oct 2020

Upper 90-Day

Feb 2021

Lower 90-Day

Thu Jun 02 2022

Jun 2021

Oct 2021

Feb 2022

May 2022

Bottom 90-Day

3 of 6

Single-Family Homes

The Bartic Group's Market Report www.TheBarticGroup.com

Arvada, CO

Price Per Square Foot

The market’s downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence.) Look for significant changes in the Market Action Index as a precursor to price and value changes, possibly as inflection points for good investment opportunities. $400

$350

$300

$250

$200

$150 Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Day Average

Feb 2021

Jun 2021

Oct 2021

Feb 2022

May 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.

300

250

200

150

100

50

0 Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Day Average

Feb 2021

Jun 2021

Oct 2021

Feb 2022

May 2022

90-Day Average

Thu Jun 02 2022

4 of 6

Single-Family Homes

The Bartic Group's Market Report www.TheBarticGroup.com

Arvada, CO

Market Action Index

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.

120

100

80

60

40

20 Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Day Average

Feb 2021

Jun 2021

Oct 2021

Feb 2022

May 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 Jun 2019

Oct 2019

Feb 2020

Top 90-Day

Jun 2020

Oct 2020

Upper 90-Day

Feb 2021

Lower 90-Day

Thu Jun 02 2022

Jun 2021

Oct 2021

Feb 2022

May 2022

Bottom 90-Day

5 of 6

Single-Family Homes

The Bartic Group's Market Report www.TheBarticGroup.com

Arvada, CO

Median Days on Market (DOM)

The properties have been on the market for an average of 51 days. Half of the listings have come newly on the market in the past 7 or so days. Watch the 90-day DOM trend for signals of a changing market.

125

100

75

50

25

0 Jun 2019

Oct 2019

Feb 2020

Jun 2020

Oct 2020

7-Day Average

Feb 2021

Jun 2021

Oct 2021

Feb 2022

May 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.

400

300

200

100

0 Jun 2019

Oct 2019

Feb 2020

Top 90-Day

Jun 2020

Oct 2020

Upper 90-Day

Feb 2021

Lower 90-Day

Thu Jun 02 2022

Jun 2021

Oct 2021

Feb 2022

May 2022

Bottom 90-Day

6 of 6

Full Property View

6011 Yarrow Street Unit #D, Arvada, CO 80004 Photos

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$260,000 - Pending

6009 Yarrow Street Unit #C, Arvada, CO 80004 Photos

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$255,000 - Pending

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 first two weeks of marketing are crucial.

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)

Your best chance of selling your home is in the first two weeks of marketing. Your home is fresh 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 home will get the greatest flurry of attention and interest in the first two weeks.

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.

Results That MOVE You

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