Custom Market Analysis for Richard Elangwe

This week the median list price for Denver, CO is $650,000 with the market action index hovering around 49. This is an increase over last month's market action index of 46 Inventory has decreased to 520

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory

Real-Time Market Profile

Strong Seller's Market

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

Market Segments

Each segment below represents approximately 25% of the market ordered by price

Median List Price

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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.

Price Per Square Foot

The market plateau is seen across the price and value. The price per square foot and median list price have both been reasonably stagnant. Watch the Market Action Index for persistent changes as a leading indicator before the market moves from these levels.

Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.

Market Action Index

Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.

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.

Median Days on Market (DOM)

The properties have been on the market for an average of 74 days. Half of the listings have come newly on the market in the past 57 or so days. Watch the 90-day DOM trend for signals of a changing market.

Segments

It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.

Online Valuation Analysis

How accurate are Zestimates?

2.4% $11,295

Zestimates varied up to 2.4% or $11,295 compared to actual MLS prices.

3 Sold

3 Pending 1 Active

Source: Zillow

20000 Mitchell Pl #67, Denver, CO 80249-7232, Denver County

APN: 224-20-067 CLIP: 2896245399

Map of Comparable Listings

STATUS: S = CLOSED P = PENDING P = ACTIVE UNDER CONTRACT A = ACTIVE

Summary of Comparable Properties

S

Listings

Christopher Wanless

Elite Home Partners

MLS #7940054

$452,000

3 Beds 3.00 Baths Year Built 1994 CLOSED 12/14/22 Days on market: 151

Details

Prop Type: Single Family Residence

County: Denver

Subdivision: GREEN

VALLEY RANCH FLG NO

16

Full baths: 2.0

Half baths: 1.0

Features

Above Grade Finished Area: 1521.0

Appliances: Dishwasher, Microwave, Oven

Association Name: Master Homeowners Association Association for Gree

Acres: 0.1

Lot Size (sqft): 4,247

Garages: 2

List date: 6/7/22

Sold date: 12/14/22

Off-market date: 11/23/ 22

Basement: Partial, Unfinished Construction Materials: Vinyl Siding, Wood Siding

Cooling: Central Air

Covered Spaces: 2.0

Updated: Dec 14, 2022 3:59 PM

List Price: $452,000

Orig list price: $570,000

Taxes: $2,375

School District: Denver 1

High: DSST: Green

Valley Ranch

Middle: Dr. Martin

Luther King

Elementary: Marrama

Exclusions: Alarm and Kwikset lock do not convey.

Fireplaces Total: 1

Heating: Electric, Natural Gas

Levels: Two

Lot Features: Level

Parking Total: 2.0

Roof: Other Rooms Total: 8

Sewer: Public Sewer

Utilities: Electricity Available

4107 Dunkirk Court Denver, CO

Remarks

Come see this charming 3 bedroom, 2.5 bathroom home now on the market! The kitchen boasts generous counter space and a breakfast bar, making cooking and entertaining a delight. Entertaining is a breeze with this great floor plan complete with a cozy fireplace.Relax in your primary suite, complete with a walk-in closet, and an en-suite bathroom with double sinks. Entertain on the back patio, perfect for barbecues. Hurry, this won't last long! This home has been virtually staged to illustrate its potential.

Courtesy of Opendoor Brokerage LLC

Information is deemed reliable but not guaranteed.

Christopher Wanless Elite Home Partners

$460,000

3 Beds 2.00 Baths Year Built 1992

Days on market:

Details

Prop Type: Single

Family Residence

County: Denver

Subdivision: Green Valley Ranch

Style: Traditional, BiLevel

Full baths: 2.0

Features

Above Grade Finished Area: 1755.0

Appliances: Cooktop, Dryer, Dishwasher, Freezer, Disposal, Microwave, Self

Cleaning Oven, Washer

Association Name: Green Valley Ranch

Common Walls: No

Common Walls

Acres: 0.13

Lot Size (sqft): 5,662

Garages: 2

List date: 10/19/22

Sold date: 12/7/22

Off-market date: 11/3/ 22

Updated: Dec 7, 2022 1:11 PM

List Price: $460,000

Orig list price: $460,000

Taxes: $2,294

School District: Denver 1

High: Montbello

Middle: Dr. Martin

Luther King

Elementary: Green Valley

Construction

Materials: Brick, Frame, Concrete

Cooling: Central Air

Covered Spaces: 2.0

Direction Faces: South

Electric: 220 Volts

Exclusions: Seller's Personal Property

Exterior Features: Private Yard, Rain Gutters

Fencing: Full

Fireplace Features: Gas, Gas Log, Great Room

Fireplaces Total: 1

Flooring: Carpet, Laminate

Foundation Details: Slab

Furnished: Unfurnished

Heating: Forced Air, Natural Gas

Interior Features: Ceiling Fan(s), Eat-in Kitchen, Five Piece Bathroom, Granite Counters, High Speed Internet, Primary Suite, Open Floorplan, Pantry, Smoke Free, Wired for Data, Walk-In Closet(s)

Levels: Multi/Split

Lot Features: Level

Remarks

Parking Features: Concrete, Storage

Parking Total: 2.0 Patio And Porch

Features: Deck, Front Porch

Pets Allowed: Cats OK, Dogs OK Road Frontage Type: Public Road

Road Responsibility: Public Maintained Road

Roof: Composition

Rooms Total: 8

Security Features: Security System, Carbon Monoxide Detector(s), Smoke Detector(s)

Sewer: Public Sewer

Utilities: Cable Available, Electricity Available, Electricity

Connected, Natural Gas Available, Natural Gas

Connected, High Speed Internet Available, Phone Available

Window Features: Double Pane Windows

Coming home never felt so good! This beautifully updated Green Valley Ranch home has it all. The many upgrades consists of all new windows, a new deck off the kitchen, newer furnace, new carpeting downstairs, new light fixtures, new flooring, new dishwasher, new oven and garbage disposal, new paint, custom built-in shelving in the primary bedroom and garage, and much more.. The spacious 3 bedroom, 2 bathroom family home has a 2 car garage and recently under went a kitchen remodel with an eat-in kitchen, granite counter tops, stainless appliances, and plenty of counter space and cabinets that offers ample storage for all of your entertainment needs. Both bathrooms were also beautifully remodeled including granite counter tops, toilets, fixtures, and new tile. There is also an option to make a fourth bedroom on the lower level with ease! This home was designed with high ceilings and many large windows to take full advantage of the spacious open-concept floor plan and all of its natural lighting from the south. The security cameras and Ring doorbell system that come with the property will give you peace of mind knowing that there is that extra security for your home. The mature landscaping includes a fenced in backyard, and a huge new deck for barbecuing. You also have the convenience of the Denver International Airport and The Gaylord Rockies Resort & Convention Center which is less than 20 minutes away including just blocks from the local elementary school, public transit, and minutes away from parks, shopping, restaurants, dog park, and 2 light rail stations. Hurry, this wonderful home is priced to move quick!

Courtesy of JPAR Modern Real Estate Information is deemed reliable but not guaranteed.

Christopher Wanless Elite Home Partners

$434,000

3 Beds 3.00 Baths Year Built 2002

Details

Prop Type: Single Family Residence

County: Denver

Subdivision: Green

Valley Ranch

Style: Traditional Full baths: 2.0

Features

Above Grade Finished Area: 1522.0

Appliances: Dryer, Dishwasher, Disposal, Gas Water Heater, Microwave, Oven, Range, Refrigerator, Washer

Association Amenities: Trail(s)

Association Fee

Frequency: Monthly

Half baths: 1.0

Acres: 0.06

Lot Size (sqft): 2,673

Garages: 2

List date: 8/20/22

Sold date: 1/27/23

Association Fee Includes: Maintenance Grounds, Recycling, Trash

Association Name: 5150 community management

Basement: Crawl Space

Builder Name: Pulte Homes

Off-market date: 1/2/23

Updated: Jan 27, 2023 2:58 PM

List Price: $439,500

Orig list price: $479,500

Assoc Fee: $138

Common Walls: End Unit, No Common Walls

Construction

Materials: Frame, Vinyl Siding

Covered Spaces: 2.0

Direction Faces: South

Exclusions: STAGING

ITEMS

Taxes: $2,356

School District: Denver 1

High: Dr. Martin Luther King

Middle: McGlone

Elementary: Marrama

Exterior Features: Private Yard, Rain Gutters, Sprinkler/ Irrigation

Fencing: Full

Fireplace Features: Dining Room, Gas, Living Room

Fireplaces Total: 1

Flooring: Carpet, Laminate, Vinyl

Foundation Details: Concrete Perimeter

Heating: Forced Air

Interior Features: Ceiling Fan(s), Eat-in Kitchen, High Ceilings, High Speed Internet, Primary Suite, Open Floorplan, Pantry, Smoke Free, Solid Surface Counters, Vaulted Ceiling(s), Walk-In Closet(s)

Remarks

Laundry Features: In Unit

Levels: Two

Lot Features: Corner Lot, Greenbelt, Sprinklers In Rear, Sprinklers In Front, Landscaped, Level

Parking Features: Concrete, Driveway, Finished Garage

Parking Total: 2.0

Patio And Porch Features: Patio

Pets Allowed: Cats OK, Dogs OK

Property Condition: Updated/Remodeled

Road Responsibility: Private Maintained Road, Public Maintained Road

Road Surface Type: Paved

Roof: Spanish Tile

Rooms Total: 11

Security Features: Security System, Carbon Monoxide Detector(s), Smoke Detector(s)

Sewer: Public Sewer

Water Source: Public Window Features: Double Pane Windows

IMMACULATE, MOVE IN READY AND ENHANCED PRICE! Spacious three bedroom single family tucked away in a patio home community within Green Valley Ranch. Vaulted Ceilings with an abundance of natural light. Open floor plan, double sided fireplace with tiled seating, white kitchen cabinetry, stainless steel appliance including gas range, solid surface counters, tile backsplash, bar stool seating and full cabinetry pantry storage. Primary bedroom with walk in closet, double vanity in primary bathroom, small loft area with storage cabinetry, new carpet installed on 8/19/2022, newer (about 8 months) HVAC system, new plank vinyl in laundry room and powder bath, backs and sides to open green space, two car attached garage, patio, fenced yard and extra open parking spaces for guest use. Easy access to DIA, GVR shopping, I-70 and downtown.

Courtesy of Coldwell Banker Realty 24 Information is deemed reliable but not guaranteed.

Mitchell

$499,000

3 Beds 4.00 Baths Year Built 1992

PENDING 1/18/23 Days on market: 59

Details

Prop Type: Single

Family Residence

County: Denver

Subdivision: Green Valley Ranch

Full baths: 1.0

3/4 Baths: 2.0

Half baths: 1.0

Features

Above Grade Finished

Area: 1790.0

Appliances: Dishwasher, Disposal, Microwave, Oven, Refrigerator

Association Fee

Frequency: Monthly

Association Name: GVR Green Valley Ranch HOA

Acres: 0.14

Lot Size (sqft): 5,930

Garages: 3

List date: 11/20/22

Pending date: 1/18/23

Off-market date: 1/18/ 23

Updated: Jan 19, 2023 8:27 AM

List Price: $499,000

Orig list price: $519,000

Assoc Fee: $12

Taxes: $2,565

School District: Denver 1

High: Noel Community Arts School

Middle: McGlone

Elementary: Green Valley

Basement: Partial,

Unfinished

Construction

Materials: Frame, Wood

Siding

Cooling: Central Air

Covered Spaces: 3.0

Electric: 110 Volts

Exclusions: Personal property

Fencing: Full

Fireplace Features: Family Room, Gas

Fireplaces Total: 1

Flooring: Carpet, Wood

Heating: Forced Air

Interior Features:

Ceiling Fan(s), Granite

Counters

Levels: Two

Lot Features: Corner Lot, Level

Parking Total: 3.0

Patio And Porch

Features: Deck, Patio

Roof: Composition

Rooms Total: 12

Sewer: Public Sewer

Utilities: Cable Available, Electricity Available, Phone Available

Remarks

Virtual Tour: View Water Source: Public

Window Features: Double Pane Windows

FANTASTIC 2-story, single-family home with finished basement in Green Valley! This home sits on a corner lot, and offers 3 Bedrooms +Loft, and 3 Bathrooms. Main level has gorgeous hardwood floors, Living Room with two-story ceiling, and spacious open layout between the Family Room and eat-in Kitchen. Family Room features a cozy gas fireplace, and Kitchen features granite-slab countertops and stainless-steel appliances, as well as center island/breakfast bar. Upper level has 3 Bedrooms, including the Primary, which features a private updated bath with dual sinks and dual shower heads. Loft has fullwall library shelves, and is perfect for an in-home office, kids' play room, or media room! Finished basement has egress windows, and large Rec Room set up your own in-home theater, and entertain friends and family! Fenced back yard is private thanks to mature trees. Set up your favorite grill and patio furniture on the extended deck, and relax after a long day. 3-car garage, walk to Canal Trail, First Creek Park, and Green Valley Elementary School!

Courtesy of TRELORA Realty, Inc.

Information is deemed reliable but not guaranteed.

$465,000

3 Beds 2.00 Baths Year Built 1991

Details

Prop Type: Single Family Residence

County: Denver

Subdivision: Green Valley Ranch

Style: Bi-Level

Full baths: 1.0

3/4 Baths: 1.0

Features

Above Grade Finished

Area: 1755.0

Appliances: Dryer, Dishwasher, Disposal, Oven, Range, Refrigerator, Washer

Association Amenities: Park

Association Name: Green Valley Ranch

Acres: 0.13

Lot Size (sqft): 5,662

Garages: 3

List date: 9/22/22

Active Under Contract date: 1/19/23

Off-market date: 1/19/ 23

Updated: Jan 20, 2023 5:25 AM

List Price: $465,000

Orig list price: $475,000

Taxes: $1,612

School District: Denver 1

High: DSST: Green

Valley Ranch

Middle: DSST: Green Valley Ranch

Elementary: Green Valley

Construction

Materials: Frame

Cooling: Central Air

Covered Spaces: 3.0

Exclusions: Seller's personal property, special doorbell for hearing impaired, and two small storage containers outside.

Exterior Features: Balcony, Gas Grill, Private Yard

Flooring: Carpet, Tile, Wood

Furnished: Unfurnished

Heating: Electric, Natural Gas

Interior Features: Ceiling Fan(s), Eat-in Kitchen, Smoke Free, Walk-In Closet(s)

Laundry Features: In Unit

Levels: Bi-Level

Parking Features: Concrete, Heated Garage

Parking Total: 3.0

Patio And Porch

Features: Deck, Balcony

Road Frontage Type:

Public Road

Road Responsibility:

Public Maintained Road

Remarks

Road Surface Type: Paved

Roof: Composition

Rooms Total: 9

Security Features: Security System

Sewer: Public Sewer

Utilities: Cable Available, Electricity Available, Electricity Connected, Phone Available

Virtual Tour: View

Water Source: Public

Window Features: Double Pane Windows, Window Coverings, Window Treatments

Welcome home to this 3 bedroom 2 bath home nestled in Green Valley Ranch! This home features stainless steel appliances, an upper deck, and a heated 3 car garage. Once you enter you can go up the stairs to the living room which welcomes you with a large and bright window that over looks the front yard. The main bedroom and eat-in-kitchen are also located on this floor. Down the stairs there is more space that can be used as a family room, playroom, workout area, or whatever your heart desires. There is also a full bathroom and 2 more bedrooms. This property has beautiful mature trees and the backyard backs up to the High Line Canal Trail which you will have access to from the backyard gate and there is also dog park close by. The security cameras that come with the property will give you peace of mind knowing that there is that extra security for your home. You will also have the convenience of shopping, the Denver International Airport, and The Gaylord Rockies Resort & Convention Center which is all less than 20 minutes away! Schedule your appointment today!!

Courtesy of 5281 Exclusive Homes Realty Information is deemed reliable but not guaranteed.

$480,000

3 Beds 3.00 Baths Year Built 2004

3

Details

Prop Type: Single Family Residence

County: Denver

Subdivision: Green Valley Ranch

Full baths: 3.0

Acres: 0.06

Features

Above Grade Finished

Area: 1731.0

Appliances: Dishwasher, Microwave, Range, Refrigerator

Association Name: Green Valley Ranch

Construction

Materials: Frame, Vinyl

Siding

Lot Size (sqft): 2,800

Garages: 2

List date: 9/21/22

Active Under Contract date: 9/24/22

Off-market date: 9/24/ 22

Cooling: None

Covered Spaces: 2.0

Exclusions: W/D

Fencing: Full

Flooring: Carpet, Wood

Heating: Forced Air, Natural Gas

Laundry Features: Laundry Closet

Updated: Sep 26, 2022 11:47 AM

List Price: $480,000

Orig list price: $480,000

Assoc Fee: $100

Taxes: $1,955

Levels: Two

Lot Features: Level

Parking Features: Concrete

Parking Total: 2.0

Patio And Porch

Features: Covered, Front Porch, Patio

Roof: Spanish Tile

School District: Denver

1

High: Dr. Martin Luther

King

Middle: Noel

Community Arts School

Elementary: Marrama

Rooms Total: 10

Sewer: Public Sewer

Utilities: Cable

Available, Electricity

Connected, Natural Gas Connected

Water Source: Public

Christopher Wanless Elite Home Partners

Remarks

Gorgeous home in the highly sought out Green Valley Ranch community. Great layout and updates! The kitchen has charming cabinets and ample countertop space with elegant black and off-white color palettes adorned by multiple windows and tons of lighting. Plenty of space throughout with a living room, family room on the main floor and 3 bedrooms and bathrooms upstairs with bonus loft space. Excellent location! Remarkably close to several parks and convenient highway access, shopping, grocery stores, entertainment, restaurants, schools, and more.

Courtesy of Resident Realty North Metro LLC Information is deemed reliable but not guaranteed.

Christopher Wanless Elite Home Partners

$470,000

3 Beds 2.00 Baths Year Built 1987

ACTIVE 1/21/23 Days on market: 14

Details

Prop Type: Single

Family Residence

County: Denver

Subdivision: Green

Valley Ranch

Style: Traditional

Full baths: 1.0

Features

Above Grade Finished Area: 1265.0

Appliances: Dishwasher, Disposal, Gas Water

Heater, Microwave, Oven, Refrigerator

Association Name: Green Valley Ranch

Basement: Interior Entry

Half baths: 1.0

Acres: 0.11

Lot Size (sqft): 5,000

Garages: 2

List date: 1/21/23

Updated: Feb 4, 2023 3:05 PM

List Price: $470,000

Orig list price: $470,000

Taxes: $2,294

School District: Denver 1

High: Dr. Martin Luther King

Middle: Noel

Community Arts School

Elementary: Marrama

Construction Materials: Frame, Wood

Siding

Cooling: Central Air

Covered Spaces: 2.0

Exclusions: Seller's

Personal Property

Exterior Features: Private Yard

Fencing: Full

Flooring: Carpet, Laminate, Linoleum

Foundation Details: Concrete Perimeter

Heating: Forced Air, Natural Gas

Interior Features: Laminate Counters

Levels: Multi/Split

Lot Features: Level

Parking Features: Concrete, Lighted

Parking Total: 2.0

Road Frontage Type: Public Road

Road Responsibility:

Public Maintained Road

Road Surface Type: Paved

Roof: Composition

Rooms Total: 10

Christopher Wanless Elite Home Partners

Security Features: Radon Mitigation System

Sewer: Public Sewer

Remarks

Utilities: Cable Available, Electricity Connected, Natural Gas Connected

Water Source: Public

Window Features: Window Coverings

This beautiful home in Green Valley Ranch offers comfortable living and a floor plan with a great flow. Vaulted ceilings in the large living room at the entrance and front of the home with the dining area and an efficient kitchen at the back of the home. A few steps down to the lower living space with 1/2 bath, and provides a wonderful family room, office, or playroom. Step outside to a spacious and tidy backyard that is level and private. This entire yard has been reworked, leveled, and made maintenance-free by Seller. Many new windows help make this home efficient to heat and cool. This Home features 3 bedrooms upstairs when you include the converted loft/no closet. Upstairs is the full bath with shower over tub and freshly painted vanity. Brand new dishwasher and oven recently installed in a kitchen that wastes no space. The Interior is freshly painted and makes the home feel bright and open.

Property backs to the High Line Canal Trail, a 71-mile linear park.

Courtesy of eXp Realty, LLC

Information is deemed reliable but not guaranteed.

Christopher Wanless Elite Home Partners

Analysis

Christopher Wanless

Elite Home Partners

Comparable Property Statistics

Sold Property Analysis

Averages

99.6%

Homes sold for an average of 99.6% of their list price.

Analysis

100

Days on market

It took an average of 100 days for a home to sell.

Suggested List Price

Analysis of the comparable properties suggests a list price range of: $465,000 - $475,000 $299 / sqft - $306 / sqft

Comparable Averages per Status

Disclaimer

The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data fields such as single-family or condo, number of bedrooms, number of baths, postal codes, and many other factors. Its purpose is to show fair market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.

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

OF BUYERS

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.

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.