Top Ten Talking Points | Mid-March | Denver Market
Mckinze Casey
![Mckinze Casey]()
Mckinze Casey
Specializing in those moving to Denver with comprehensive relocation resources and services | Broker | Sotheby's International Realty
- The market favors sellers more deeply this time of year.
- Total showings increased week over week by 14.1%
- This past week averaged 25.6 showings per listing, up 30.2% from this time last year.
- Median days on the market remains steady at 4
- The suburban surge and demand for larger homes with more room continues into 2023. More urban densely populated areas are still not in a balanced market but are slightly less competitive than the outer ring suburbs
- Pricing strategies remain paramount in this market. With only one chance at making a good first impression based on location, condition and price buyers are often unwilling to take a second look even after a price reduction. When homes are priced right the first time they sell faster and for more money.
- In February, 53.6% of all closed attached properties in Metro Denver sold at or above asking price.
- SELLERS: If you launched at the wrong price, you need a substantial price reduction to reengage buyers. Micro stair-stepping the price down is the wrong strategy.
- Heading into March, the market is reaching its most competitive point in the annual selling cycle.
- The odds of selling this past week was 66.3%, down 21% from this time last year…strategy matters.