at Keller Williams Integrity
The Bartic Group's Market Report Commerce City, CO REPORT FOR 5/13/2022 Single-Family Homes
Presented by Bartic Group 720-208-7200 info@thebarticgroup.com
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Commerce City, CO
This week the median list price for Commerce City, CO is $639,280 with the market action index hovering around 97. This is about the same as last month's market action index of 97. Inventory has increased to 55.
Real-Time Market Profile Median List Price
$639,280
Market Action Index
Median Price of New Listings
$620,000
This answers “How’s the Market?” by comparing rate of sales versus
Per Square Foot
$215
Average Days on Market
13
Median Days on Market
0
Price Decreased
18%
Price Increased
16%
Relisted
2%
Inventory
55
Median Rent
$2,748
Market Action
97
inventory. 50
40
Buyer's Market
60
Seller's Market
70
100
10
0
on
97
90
M
ay Tod th
Las t
80
20
30
Strong Seller's Market In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
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
$749,104
4,149
6,500 - 8,000 sqft
4
4
2
7
3
0
$665,380
3,502
4,500 - 6,500 sqft
4
3.5
1
8
3
0
$602,500
2,661
4,500 - 6,500 sqft
3
3
0
7
7
7
$455,000
1,571
4,500 - 6,500 sqft
3
3
21
10
8
0
Fri May 13 2022
2 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Commerce City, CO
Median List Price
Despite this week’s up tic, the market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this shift. $700K
$650K
$600K
$550K
$500K
$450K
$400K May 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 2022
May 2022
90-Day Average
Segments
Prices have settled at a price plateau across the board. Prices in all four quartiles are basically mixed. Look for a persistent shift (up or down) in the Market Action Index before prices move from these current levels. $800K
$700K
$600K
$500K
$400K
$300K May 2019
Sep 2019
Jan 2020
Top 90-Day
May 2020
Sep 2020
Upper 90-Day
Jan 2021
Lower 90-Day
Fri May 13 2022
May 2021
Sep 2021
Jan 2022
May 2022
Bottom 90-Day
3 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Commerce City, CO
Price Per Square Foot
While prices have been basically flat, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are coming more available and buyers are tending to get more home for their money. $350
$300
$250
$200
$150
$100 May 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 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. 200
150
100
50
0 May 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 2022
May 2022
90-Day Average
Fri May 13 2022
4 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Commerce City, CO
Market Action Index
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. 120
100
80
60
40
20 May 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 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 May 2019
Sep 2019
Jan 2020
Top 90-Day
May 2020
Sep 2020
Upper 90-Day
Jan 2021
Lower 90-Day
Fri May 13 2022
May 2021
Sep 2021
Jan 2022
May 2022
Bottom 90-Day
5 of 6
Single-Family Homes
The Bartic Group's Market Report www.TheBarticGroup.com
Commerce City, CO
Median Days on Market (DOM)
The properties have been on the market for an average of 15 days. Half of the listings have come newly on the market in the past 4 or so days. Watch the 90-day DOM trend for signals of a changing market. 80
60
40
20
0 May 2019
Sep 2019
Jan 2020
May 2020
Sep 2020
7-Day Average
Jan 2021
May 2021
Sep 2021
Jan 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. 80
60
40
20
0 May 2019
Sep 2019
Jan 2020
Top 90-Day
May 2020
Sep 2020
Upper 90-Day
Jan 2021
Lower 90-Day
Fri May 13 2022
May 2021
Sep 2021
Jan 2022
May 2022
Bottom 90-Day
6 of 6
6130 E 61st Ave, Commerce City, CO 80022-3409, Adams County APN: R0091765
CLIP: 3187819876
MLS Beds 3
MLS Full Baths 1
Half Baths N/A
Sale Price $260,000
MLS Sq Ft 1,790
Lot Sq Ft 6,000
Yr Built 1955
Type SFR
Sale Date 08/21/2018
OWNER INFORMATION
Owner Name
Dutton David
Mailing Zip
80022
Owner Name 2
Hughes Brian
Mailing ZIP 4
3409
Mailing Address
6130 E 61st Ave
Mailing Carrier Route
C014
Mailing City & State
Commerce City, CO
Owner Occupied
Yes
Property Zip
80022
Census Tract
87.09
Property Zip4
3409
Neighborhood Code
Commerce City Southeast-520
Property Carrier Route
C014
Township
03S
School District
Adams County 14
Range
67W
Elementary School
Rose Hill
Section
08
Middle School
Kearney
Quarter
NW
High School
Adams City
Block
2
Subdivision
B & B Sub
Lot
4
PIN
R0091765
% Improved
78%
Alternate PIN
1823-08-2-15-022
Tax District
250
Schedule Number
R0091765
Legal Description
SUB:B AND B SUBD BLK:2 LOT:4
LOCATION INFORMATION
TAX INFORMATION
ASSESSMENT & TAX
Assessment Year
2021
2020
2019
Market Value - Land
$69,000
$69,000
$69,000
Market Value - Improved
$247,939
$201,706
$201,706
Market Value - Total
$316,939
$270,706
$270,706
Assessed Value - Land
$4,930
$4,930
$4,930
Assessed Value - Improved
$17,730
$14,420
$14,420
Assessed Value - Total
$22,660
$19,350
$19,350
YOY Assessed Change (%)
17.11%
0%
YOY Assessed Change ($)
$3,310
$0
Tax Year
Total Tax
Change ($)
Change (%)
2019
$1,740
2020
$1,743
$4
0.21%
2021
$2,008
$265
15.19%
CHARACTERISTICS
Lot Frontage
59
Total Rooms
6
Lot Depth
103
Bedrooms
3
Lot Acres
0.1377
Baths - Total
Tax: 2 MLS: 3
Lot Sq Ft
6,000
MLS Total Baths
3
Land Use - County
Single Family Resid
Baths - Full
Tax: 2 MLS: 1
Land Use - CoreLogic
SFR
Stories
1
Building Type
Residential
Cooling Type
Central
Style
Ranch
Heat Type
Forced Air
Year Built
1955
Garage Type
Detached Garage
Bldg Sq Ft - Above Ground
1,384
Garage Sq Ft
720
Bldg Sq Ft - Basement
740
Roof Material
Composition Shingle
Bldg Sq Ft - Total
1,899
Construction
Frame
Bldg Sq Ft - Finished
Tax: 1,384 MLS: 1,790
Exterior
Frame
Bldg Sq Ft - 1st Floor
1,384
Quality
Fair
Basement Type
Unfinished
Equipment
Ssk, Whe
# Buildings
1
Property Details
Courtesy of Mitch Helfer, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 05/13/22 Page 1/3
FEATURES
Feature Type
Size/Qty
Sink Standard
1
Bath 4
2
Water Heater
1
Laundry Facility
1
Allowance
1
Detached Garage
720
Unfinished
740
Building Description
Building Size
Single Family
1
SELL SCORE
Rating
Low
Sell Score
442
Value As Of
2022-05-08 04:20:23
LISTING INFORMATION
MLS Listing Id
909091
MLS Current Price
$139,000
MLS Days On Market
86
MLS Original List Price
$154,500
MLS Source
REcolorado
MLS Listing Contract Date
07/16/2010
MLS Status
Withdrawn
MLS List Office Name
NAGEL & ASSOCIATES REALTY, LLC
MLS Status Change Date
10/10/2010
MLS List Agent Full Name
01936n-Sonja Nagel
MLS Listing #
875568
841731
MLS Source History
REcolorado
REcolorado
MLS Status
Withdrawn
Closed
MLS Listing Price
$159,900
$65,000
MLS Orig Listing Price
$159,900
$50,000
MLS Listing Close Price
$0
$72,000
MLS Listing Date
04/17/2010
01/14/2010
MLS Close Date
03/31/2010
LAST MARKET SALE & SALES HISTORY
Sale Date
08/21/2018
Deed Type
Warranty Deed
Sale Price
$260,000
Owner Name
Dutton David
Price per SqFt - Finished
$187.86
Owner Name 2
Hughes Brian
Document Number
73316
Seller
Hughes Debbie & Kenneth W
Sale Date
08/21/2018
03/30/2012
Sale Price
$260,000
$139,000
Nominal
03/14/2012
11/15/2010
03/31/2010 $72,000
Y
Buyer
Dutton David
Hughes Debbie & Kenn eth W
107 Holdings LLC
107 Holdings LLC
Jefferson Green LLC
Buyer
Hughes Brian
Hughes Kenneth W
Seller
Hughes Debbie & Kenn eth W
107 Holdings LLC
Jefferson Green LLC
Jefferson Green LLC
Olmos Flavio Jr
Document Number Document Type
73316
23911
23909
11977
21537
Warranty Deed
Warranty Deed
Quit Claim Deed
Quit Claim Deed
Title Company
Warranty Deed
First American Title
Land Title Guarantee
Land Title Guarantee
Sale Date
05/05/2006
Sale Price
$124,950
Nominal Buyer
Olmos Flavio Jr
Buyer
Quantum Title
01/18/2006
08/01/2005
Y
Y
Fowler David & Lela M
Fowler Lela M
Fowler Lela M
Seller
Fowler David & Lela M
Fowler Lela M
Fowler R Lee
Document Number
513900
83650
810680
Document Type
Warranty Deed
Quit Claim Deed
Affidavit
Title Company
Security Title Co
MORTGAGE HISTORY
Mortgage Date Property Details
09/10/2018
04/02/2012
02/28/2007
05/18/2006
Courtesy of Mitch Helfer, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
05/18/2006 Generated on: 05/13/22 Page 2/3
Mortgage Amount
$208,000
$141,988
$21,578
$99,960
$24,990
Mortgage Lender
Quicken Lns Inc
Swbc Mtg Corp
Household Fin Corp III
Advent Mtg LLC
Advent Mtg LLC
Borrower
Dutton David
Hughes Debbie
Olmos Flavio Jr
Olmos Flavio Jr
Olmos Flavio Jr
Borrower
Hughes Brian
Hughes Kenneth W
Mortgage Type
Conventional
Va
Conventional
Conventional
Conventional
Mortgage Purpose
Resale
Resale
Refi
Resale
Resale
Mortgage Int Rate
7.875
Mortgage Int Rate Type
Adjustable Int Rate Loa n
Mortgage Term
30
30
20
30
15
Mortgage Term
Years
Years
Years
Years
Years
Title Company
US Recordings Inc
FORECLOSURE HISTORY
Document Type
Release Of Lis Pendens/Notice
Default Date
Notice Of Trustee's Sale 06/01/2009
Foreclosure Filing Date
11/04/2009
Recording Date
04/14/2010
11/12/2009
Document Number
24280
84123
Final Judgment Amount
$97,187
Original Doc Date
11/12/2009
05/18/2006
Original Document Number
84123
513910
PROPERTY MAP
*Lot Dimensions are Estimated
Property Details
Courtesy of Mitch Helfer, REcolorado
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Generated on: 05/13/22 Page 3/3
Map of Property Locations
6150 E 60th Place, Commerce City, CO 80022 Listing Id: 2593706 Status: Closed 05/04/22 Price: $415,000 1 Subtype: SFR Ttl SqFt: 740 Bd/Bth: 3/1 Show #: 1-888-808-0331
6151 E 60th Place, Commerce City, CO 80022 Listing Id: 7299513 Status: Closed 01/06/22 Price: $355,000 Subtype: SFR 2 Ttl SqFt: 740 Bd/Bth: 2/1 Show #: 303-573-7469
Full Property View
6150 E 60th Place, Commerce City, CO 80022 Listing ID:
$415,000 - Closed
----
2593706
MLS Status: Close Price: County: Adams List Price: Property Type: Residential Original List Price: Property Subtype: Single Family Residence Structure Type: House Basement: Levels: One Year Built: Subdivision Name: Commerce City Listing Contract Date: 04/07/2022 Spec. Listing Cond: Purchase Contract Date: 04/12/2022 Contingency: Close Date: 05/04/2022 Days in MLS: 5 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: Tax Annual Amt: $1,561 Tax Year: Tax Legal Desc: SUB:B AND B SUBD BLK:3 LOT:6
Closed $415,000 $400,000 $400,000 No 1955 None Known None Known $0.00 2021
Recent: 05/04/2022 : CLOSE : P->C
Interior Area & SqFt Building Area Total (SqFt Total): 740 Living Area (SqFt Finished): 740 Area Source: Above Grade Finished Area: 740 PSF Total: $561 PSF Above Grade: $561 PSF Finished: Foundation: Fireplace: Heating: Forced Air Cooling: None HVAC Description: Interior Features: Granite Counters Security Features: Flooring: Carpet, Laminate, Tile Appliances: Dishwasher, Disposal, Microwave, Oven, Range Exclusions: Seller's personal property and staging items.
$561
Bed & Bath Summary Bedrooms Total: Upper Level Bedrooms: Main Level Bedrooms: Lower Level Bedrooms: Basement Level Bedrooms:
3 0 3 0 0
Bathrooms Total: Upper Level Bathrooms: Main Level Bathrooms: Lower Level Bathrooms: Basement Level Bathrooms:
1 0 1 0 0
Bathrooms Full: Three Quarter: Half: One Quarter:
1 0 0 0
Detailed Room Info Room Type Living Room Kitchen Bathroom (Full) Laundry Bedroom Bedroom Bedroom
Rm Level Main Main Main Main Main Main Main
Dimensions Description
stackable
Parking Parking Total: 5 Garage Spaces: 0 Carport Spaces: 0 Reserved Spaces: 3 Parking Type # of Spaces Parking Length Parking Width Reserved - Exclusive 3 Use Only Off-Street 2 Parking Features: Driveway-Gravel
Offstreet Spaces: RV Spaces: Parking Description Driveway
2 0
Site & Location Information Lot Size: Current Use:
0.14 Acres / 6,000 SqFt
Fencing:
R0091787 45
Elementary School: Rose Hill / Adams 14 Middle/Junior Sch: Kearney / High School: Adams City / Adams 14 School of Choice: View Walk, Bike, & Transit Scores
Bldg/Complex Name: Parcel Number: Walk Score:
Building Information Architectural Style: Construction Materials: Cement Siding, Frame Roof: Composition Exterior Features: Property Condition: Updated/Remodeled Builder Name: Patio/Porch Feat: Covered, Front Porch Pool Features:
Builder Model:
Water & Utilities Water Included:
Yes
Water Source:
Public
Sewer:
Public Sewer
Public Remarks Updated 3 Bedroom, 1 Full bathroom ranch with a covered front porch and fenced yard. Enjoy newer cabinets, granite countertops, laminate flooring, carpet, exterior and interior paint, appliances, roof, and electrical service panel. Beautifully remodeled bathroom. Large driveway to fit several vehicles or an RV/trailer. Front yard is completely fenced. Backyard fenced except an opening between the house and the garage. Plenty of room to add a detached garage if desired. Walking
to distance to all the fun at Pioneer Park which boasts a pool, basketball courts, skate park, batting cages, baseball and softball, as well as picnic areas. Quick access to I-70 and 270.
Confidential Information Private Remarks: In your offer, input Seller's Property disclosure date as N/A. Seller does not provide a SPD. All offers require a lender letter or Proof of funds. -Please call Listing Agent when submitting an offer. For a quicker response on your questions please text Brandon at 720-621-3347 Buyer Agency Comp: 2.5% Dual Variable: No Submitted Prosp: Yes Transaction Broker Comp: 2.5% Contract Earnest Check To: Stewart Title Possession: Closing/DOD Contract Min Earnest: $4,000 Listing Terms: Cash, Conventional, FHA, VA Loan Title Company: Stewart Title. Closer Gina Cruz Ownership: Corporation/Trust
List Agent List Agent: List Agent ID:
Brandon Kite 31991N
List Office: American Home Agents
Phone: 720-621-3347 Mobile: 720-621-3347 Office: 303-695-5900 Email: brandonkite@gmail.com
List Office ID:
AMRE1
Buyer Agent: Blair Dinkins
Phone: 719-357-1346
Buyer Agent ID:
55058899
Buyer Office: eXp Realty, LLC
Email:
Buyer Office ID:
EXPCO
Buyer Agent
blair@coloradoteam.com
Close Information Concessions: No Commission Modified: NA
Buyer Financing: Closing Comments:
VA
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 05/13/2022 9:14:43 AM
Full Property View
6151 E 60th Place, Commerce City, CO 80022 Listing ID:
$355,000 - Closed
----
7299513
MLS Status: Close Price: County: Adams List Price: Property Type: Residential Original List Price: Property Subtype: Single Family Residence Structure Type: House Basement: Levels: One Year Built: Subdivision Name: Commerce City Listing Contract Date: 11/30/2021 Spec. Listing Cond: Purchase Contract Date: 12/02/2021 Contingency: Close Date: 01/06/2022 Days in MLS: 2 Association: N Multiple: Cov/Rest: N Assoc Fee Tot Annl: Tax Annual Amt: $1,422 Tax Year: Tax Legal Desc: SUB:B AND B SUBD BLK:2 LOT:19
Closed $355,000 $354,000 $354,000 No 1955 None Known None Known $0.00 2020
Interior Area & SqFt Building Area Total (SqFt Total): 740 Living Area (SqFt Finished): 740 Area Source: Above Grade Finished Area: 740 PSF Total: $480 PSF Above Grade: $480 PSF Finished: Foundation: Fireplace: Heating: Forced Air Cooling: Central Air HVAC Description: Security Features: Flooring: Tile, Vinyl Exclusions: Seller's personal property and or staging items
$480
Bed & Bath Summary Bedrooms Total: Upper Level Bedrooms: Main Level Bedrooms: Lower Level Bedrooms: Basement Level Bedrooms:
2 0 2 0 0
Bathrooms Total: Upper Level Bathrooms: Main Level Bathrooms: Lower Level Bathrooms: Basement Level Bathrooms:
1 0 1 0 0
Bathrooms Full: Three Quarter: Half: One Quarter:
1 0 0 0
Detailed Room Info Room Type Bathroom (Full) Bedroom Bedroom Laundry Kitchen Living Room
Rm Level Main Main Main Main Main Main
Dimensions Description
Parking Parking Total: 4 Carport Spaces: 1 Parking Type Off-Street Reserved - Exclusive Use Only Carport (Attached)
# of Spaces 2 1
Garage Spaces: 0 Reserved Spaces: 1 Parking Length Parking Width
Offstreet Spaces: RV Spaces: Parking Description
2 0
Driveway
1
Site & Location Information Lot Size: Current Use:
0.14 Acres / 6,000 SqFt
Fencing:
R0091750 51
Elementary School: Rose Hill / Adams 14 Middle/Junior Sch: Kearney / Adams 14 High School: Adams City / Adams 14 School of Choice: View Walk, Bike, & Transit Scores
Bldg/Complex Name: Parcel Number: Walk Score:
Building Information Architectural Style: Construction Materials: Frame Roof: Composition
Exterior Features:
Water & Utilities Water Included:
Yes
Water Source:
Sewer:
Public Sewer
Outbuildings # of Outbuildings: 2 Outbuilding Type SqFt Shed(s) Shed(s)
Stories Yr Blt Stalls Doors Length/Width Floor
Stall Floor
Features
Description
Public Remarks Updated 2 bedroom, 1 full bathroom ranch with attached carport and covered front patio. Enclosed sun room patio in backyard. Newer carpet, paint, vinyl flooring, cabinets, granite countertops, appliances and remodeled bathroom. Good sized front and back yard with 2 sheds. Walking distance to Paradice Island Pool and water park and Pioneer Park with
basketball courts, skatepark, batting cages and softball and baseball fields. Easy highway access to get anywhere you want in the city.
Confidential Information Buyer Agency Comp: Transaction Broker Comp: Contract Earnest Check To: Contract Min Earnest: Title Company:
2.5% 2.5% Stewart Title $3,500 Stewart Title
Dual Variable:
No
Submitted Prosp:
Yes
Listing Terms:
Possession: Closing/DOD Cash, Conventional, FHA, VA Loan Ownership: Corporation/Trust
List Agent List Agent: List Agent ID:
Brandon Kite 31991N
List Office: American Home Agents
Phone: 720-621-3347 Mobile: 720-621-3347 Office: 303-695-5900 Email: brandonkite@gmail.com
List Office ID:
AMRE1
Buyer Agent: Maritza Escobar Low
Phone: 303-641-2706
Buyer Agent ID:
55039852
Buyer Office: Rocky Mountain R.E. Advisors
Email:
Buyer Office ID:
RMREA
Buyer Agent
mescobar0512@gmail.com
Close Information Concessions: No Commission Modified: NA
Buyer Financing: Closing Comments:
Conventional
Not intended for public use. All data deemed reliable but not guaranteed. © REcolorado 2022.
Generated on: 05/13/2022 9:17:13 AM
Property Type is 'Residential' Mls Status is one of 'Active', 'Pending' Mls Status is 'Closed' Status Contractual Search Date is 05/13/2022 to 11/14/2021 Latitude, Longitude is within 0.25 mi of
6130 E 61st Ave, Commerce City, CO 80022, USA Originating System Name is one of 'REcolorado', 'ROCC', 'SSBR', 'IRES*'
Residential Closed Properties Listing ID Address
City
7299513 6151 E 60th PL
Commerce City Commerce City Count: 2
2593706 6150 E 60th PL
Bds
Bths
Abv
Ttl
Fin
Close
PSF Abv
PSF Ttl
List Price Close Price
CP/OLP
2
1
740
740
740
01/06/22
$480
$480
$480
2
354,000
$354,000 $355,000
100%
3
1
740
740
740
05/04/22
$561
$561
$561
5
400,000
$400,000 $415,000
104%
Averages:
740
740
740
$520
$520
$520
4
$377,000
$377,000 $385,000
102%
Orig Price $377,000
List Price Close Price $377,000 $385,000
CP/OLP 102 %
Closed Price:
Report Totals
Presented By: Mitch Helfer Generated on: 05/13/2022
Count : 2
Averages:
High $415,000
SqFt Abv 740
SqFt Ttl 740
Low $355,000 Sqft Fin 740
PSF Abv $ 520
PSF Fin DIM Orig Price
Median $385,000 PSF Ttl
$520
All data deemed reliable but not guaranteed. Copyright REcolorado © 2022. All rights reserved. REcolorado.com
PSF Fin $520
CMA 1-Line Page 1 of 1
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.
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