“So how’s the market?” As a Realtor, I get asked that question all the time!
Hi, I’m Jennifer Prestwich, the Prestwich Group at Madison & Company Properties. I’m here to give you your market update in Westminster Colorado, 80031.
The month of February again saw a decrease in available homes throughout the Denver metro area. The Westminster inventory, was about the same as it was for January. However, this is not to say that we had much inventory, that number is still at a record low.
There were only 24 closed attached and detached homes in the month of February. This is a marked decrease from February of 2021. The average days on market for all properties was 16 days. This is a slight increase over January’s average days on market of 13 days.
The median closed sale price for all properties sold was $430,000. Now this is actually lower than last February’s median sale price. Although that isn’t entirely surprising as there were much fewer homes closed in February of ’22, which means there were fewer data points. Now I should note that I use median prices here because the median helps to mitigate any outliers. Meaning, those sold properties that were significantly higher or lower than the others, and that could skew the average.
Now I’m sure you’ve been hearing a lot about how prices have been increasing over the past year. What I want you to keep in mind is the adage all real estate is local. What I mean is the amount of change will vary by city, by zip code, and even by neighborhood.
In Westminster 80031, sold prices have increased 4.4% over the last year.
So what’s the market like in your neighborhood? click the link below to get your free customized market analysis for your home.
Be sure to reach out to me for all of your real estate questions big or small. Remember life is too short not to love where you live. I’m Jennifer Prestwich, the Prestwich Group at Madison & Company Properties. I’m out here living the Denburbs life, and I want to help you do it too.