Beware of Misleading Real Estate Statistics: Denver October 2021
As a savvy consumer interested in selling or buying real estate It’s important to figure out what’s real or not real and who is telling you the truth. Get the facts with Denver’s October 2021 market report from Realtor® Sam Wilson of the Sam Wilson Home Selling Team.
If you regularly search for real estate news online, finding reliable information you can trust can be tricky. An investment in real estate is one of the most significant purchases you will make in a lifetime. Be sure that you have the facts and ask the right questions to avoid relying on misleading real estate statistics.
Sam Wilson’s Monthly Denver Real Estate Market Update: Beware of Misinformation
Watch this short video to learn more about current Denver area real estate trends. Sam explains why what you might be hearing about the real estate market might not be accurate.
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The Denver Real Estate Market is Favorable for Home Buyers
The number of active home listings at the end of October 2021 of 3,376 is down 14.98% from September. Homeowners are settling in for the fall and holiday season. Closed homes for the same time period of 5,159 is down by 8.29% confirming less home buyer demand and competition which is favorable news for homebuyers.
With prices remaining consistent month to month, it’s easier for homebuyers to plan for and predict what they may have to pay for their next home. Comparing prices from April 2021 to October 2021, the stability in prices can be easily seen in Denver Market real estate statistics.
The median closed price in April 2021 for a detached home was $582,000. Six months later at the end of October 2021, the price is $585.000, an increase of only $3,000. The good news follows for attached family homes at a median closing price of $375,000 in April that remained the same in October 2021.
Misleading Real Estate Statistics Prove That Some Home Sellers Are Overpricing Their Homes
Home sellers who examine the April through October 2021 sales trends to establish a selling price for their homes will sell quickly against the competition. Others, relying on news stories or trusting realtors who don’t base their recommendations on market facts may be misled and miss out on opportunities to get the best price. Pricing a home is an area where using misleading real estate statistics is ill-advised.
Wearing rose-colored glasses to believe that the price increases of 2020 to the 2021 year over year of 9-15% will still occur month to month has some home sellers sitting on their homes and their pride. This is an area where home sellers who want to be optimistic are better at being realistic. Overpricing a home usually results in getting a lower sales price than if the home was priced right on the first day of availability.
If a realtor tells you to price high and “see how it goes,” ask for a report of recent homes sold in the area and the list versus sale price. Make sure that you are looking at home sales in the recent 1-2 months. If you are looking at a longer time period, you may not have a realistic picture of what’s happening today in your neighborhood.
Telling Real Estate Facts From The Denver Metro Association of Realtors October 2021 Market Report
According to the Denver Metro Association of Realtors October 2021 Market Report, “this September 18.6 percent of closed transactions reduced the asking price before receiving an offer. This is compared to 10 percent in July. Those properties that reduced price spend an average of 35 days in the MLS compared to eight days for those with no price reduction. It’s clear, pricing properties correctly from the start results in a faster sale. “
Supporting realistic pricing is the statistic of days in the MLS increasing 7.69% to 14 days in October giving sellers a little more time to find their replacement home while selling a current home. If you are a home seller concerned about finding your next home before you sell, learn more about the Buy Before You Sell Program from the Sam Wilson Home Selling Team
Smoother Times Ahead for Home Buyers and Home Sellers
The current real estate trends confirm that smoother times are ahead without the pricing and bidding war volatility seen earlier in 2021. If you are considering buying or selling in 2022, now is the time to make a plan.
The realtors on the Sam Wilson Home Selling Team can research your neighborhood and recent homes sold to help you arrive at the best sales price. Additionally, if you are looking to buy, our realtors will help you find a house based on your interests. All information is provided based on facts to help you avoid making decisions based on misleading real estate statistics you hear in the news.
As always, we are here to meet with you by telephone, virtual call, or in-person to discuss market statistics for the Denver metro area and for your neighborhood. It’s important to beware of misleading real estate statistics and to be as educated about the real estate process when buying or selling a home. Our knowledgeable realtors will walk you through every step of the process.
Tips for Home Sellers
If you are a home seller, there’s plenty to do if you are planning to sell now or in the coming year. Following a commitment to educate and offer factual real estate statistics, we also offer free reports and articles with topics requested by our clients.
- Have you made your checklist of items likely to need attention during a home inspection? Get a copy of our FREE Printable Home Inspection Report Checklist.
- Wondering where or how to get rid of all of that accumulated stuff? Read our blog post What to Do with Family Heirlooms.
- Check out our other reports for home sellers on our Real Estate Tips Page
- Know that if you are interested in selling during the fall and holiday season buyers are looking for homes
Our Worry-Free Listing Program allows you to choose a flexible real estate commission, receive an immediate cash offer for your home based on market statistics versus the unreliable computer-generated iBuying algorithms used by Zillow.
While computers are great for many things, working with a knowledgeable and trustworthy realtor still provides value and peace of mind.
Tips For Home Buyers
Homebuyers are in a great position to plan ahead to buy a home now or in the near future. Visitors to this site can sign up to receive regular updates about new homes coming on the market and read helpful articles on our website.
- Sign up for our FREE Home Search program and receive emails featuring new homes coming on the market.
- If you are a first-time homebuyer, check out important tips in our article, First Time Home Buyer Mistakes: How to Avoid Homebuyers Remorse. You’ll learn about the importance of having a good credit rating and how to pre-qualify before you begin searching for homes.
- If you’re looking to upsize or downsize, our articles How to Get Your House Ready to Sell or Downsizing to a Smaller Home offer practical tips.
If You Are Thinking of Buying or Selling – Our Expertise and Knowledge Can Help You Make the Best Real Estate Decisions
The Sam Wilson Home Selling Team makes you a priority and shares expertise to make the home buying or selling process as stress-free as possible. We know that you have a choice in realtors. We have a proven track record of client satisfaction. Read what our customers have to say about us.
The realtors on our team serve as a resource for home-related needs and services. We work with local trusted and reliable service companies that can help you with projects related to selling or buying your home. We are committed to helping our customers make decisions based on facts, not misleading real estate statistics.
Contact Sam Wilson today by phone or text at 303-770-1250 or complete the contact form on our website
© 2021 Sam Wilson All Rights Reserved. Articles by Pamela D Wilson