Denver Market Update - Oct., 2009

So . . . How's the Market in October, 2009?

According to Jack O'Connor, an Owner/Broker of Re/Max Professionals, LLC, our market is showing signs of turning around. The statistics show that Sept., 2009, actually had more sales close than in Sept., 2007, and the number of properties under contract is at the highest level (for October) in 5 years.

Another very positive indicator is that the current number of active listings is at the lowest level in the last 5 years as listing inventories continue to decline. This has decreased the average time on the market to less than 100 days and should help prices begin to increase.

It's not all good news yet as the better performing segments are still in the lower price ranges below $300,000.

If you do consider selling your home, there are some things you can do to optimize your market position:

• Use a professional stager to make your home shine and stand out among your competitors.
• Make your home the best conditioned home in your area to differentiate and help justify your price point.
• Add carbon monoxide detectors - they're required now.
• Consider financial incentives like prepaying HOA dues for a period of time to attract buyers.