2019 The Overlook Severance CO Market Data (Commentary)
While the listing price v sales price in The Overlook is still very high, that has something to do with the new construction still ongoing in the neighborhood. New construction typically has a base price and with typical buyer upgrades pushes the original sales price higher. The days on market and inventory is increasing for new construction but re-sale has dropped considerably. An excellent sign for single family sellers. Expect fewer sales and less inventory (except what is currently under construction or standing builder inventory) in the coming months (assuming they are re-listed in the MLS). We expect re-sales to be attractive to buyers as they have a lower price point and no major expense output (except purchase costs) in the coming months.
Overall, 2019 was a very strong sellers market. Some months, inventory was over 3 months. But, the average over the entire year was 1.4 months of inventory. The lower that number, the more it favors sellers.
Market Reference Disclaimer:
6 months or less = Sellers Market/ 6-7 months = Neutral Market/ Over 7 months = Buyers Market
Disclaimer- The graphic above and associated commentary is based on the static data (a snapshot in time) and is wholly based on the post authors opinion of the data at the time the post was published. The data below is dynamic. Meaning, it automatically updates as one piece of data changes (not a snapshot in time).
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