Sotheby's International Realty Releases 2012 Year-End Micro ...

23Jan 2013

Fuller Sotheby?s International Realty (FSIR), a leader in the sale and purchase of luxury residences throughout Colorado released their 2012 Year-End Micro-Market Reports revealing an upswing in the local housing market.?According to the latest data from Metrolist, buyer demand and historically low inventory levels continued to increase average and median sales prices across the metro, as home values rose by 9% in 2012.

Currently an active seller?s market with tightened inventory, experts forecast buyer demand to remain high. A significant factor will be starting the year with roughly half the active listings when compared to this time last year. However, the reduction of inventory is beginning to establish a better real estate environment by eliminating distressed properties ? an encouraging sign as we move into 2013.? ?While bank owned properties continue to be a major factor in terms of pulling down values and sale prices, strong demand has increased the average bank property by almost 5%. In 2012, there were 21% fewer bank owned properties for sale, largely due to a higher percentage of successful short sales,? says Larry Simpson, Broker Associate at Fuller Sotheby?s International Realty.

Notable trends throughout Denver Metro real estate include a 27% drop in number of days on market compared to 2011, with overall sold listings up 17% in 2012. ?Housing economists agree that real estate markets across the country are finally showing signs of stabilization. ?Denver continues to be one of the top housing markets,? says Steve Blank, Managing Broker at Fuller Sotheby?s International Realty. ?Metrolist reported that Denver sold 3,400 homes in December; 8% higher than December 2011. They also reported a 30% drop in inventory from December 2011, placing pressures on prices to head north, while creating competition for available homes. Denver in general has appreciated anywhere from 4%-15%, depending on area, price range, and inventory levels.?

Even in an area the size of metro Denver, market trends can vary dramatically from neighborhood to neighborhood. When you are contemplating as large a financial commitment as the purchase or sale of a home, micro-market data on your neighborhood can make a big difference. Fuller Sotheby?s International Realty compiles quarterly and year-end reports of micro-market statistics to help you make better real estate decisions. Visit www.ColoradoMicroReports.com for direct, 24-7 access to micro-market reports. If your community is not listed, or you?re unsure what the data means for your transaction, simply contact one of our expert broker associates, and we?ll be happy to pull a report for you and help you interpret the results.

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Source: http://www.coloradorealestatediary.com/2013/01/sothebys-international-realty-releases-2012-year-end-micro-market-reports/?utm_source=rss&utm_medium=rss&utm_campaign=sothebys-international-realty-releases-2012-year-end-micro-market-reports

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