Is Severance, CO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Severance is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Severance was a Seller's Market.

Key Takeaway

Severance is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Severance, CO

How much do homes in Severance, CO cost?

Median Sold Price

$474,500

$249/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$38,000(-7.4%)

Key Takeaway

Homes in Severance have sold for 7.4% less than they did a year ago.

Summary: The median home sold price in Severance was $474,500 in May 2024, down 7.4% from last year, and the median price per square foot was $249.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $395K-
N/A
3 $472.5K$452.5K
-4.2%
4 $520K$500K
-3.8%
5+ $600K$609K
+1.5%

Summary: Severance housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 1.5%.

Housing Supply in Severance, CO

How many homes are available in Severance, CO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
110122+10.9%

Summary: The Severance real estate market had 122 homes for sale in May 2024, a 10.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 11
0.0%
3 4952
+6.1%
4 3334
+3.0%
5+ 2735
+29.6%

Summary: The Severance housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 29.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1820+11.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

9 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Severance, expect to pay close to the asking price. 45% of homes here sold near the asking price last month.

Summary: A total of 20 homes were sold or pending in Severance in May 2024, up by 11.1% month-over-month. Of the 20 sold homes, 30% were sold under asking, 45% were sold at asking, and 25% were sold over asking.

Days on Market for Severance, CO

How long does it take to sell a home in Severance, CO?

Average Sale Time

May 2023May 2024CHANGE
64 Days41 Days-34.8%

Summary: Homes in Severance had an average of 41 days on market in May 2024, down by 34.8% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Severance has remained consistent over time.

Summary: During May 2024, 20 homes were sold in Severance; 40% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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