Is Severance, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Severance was a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $395K | - | N/A |
3 Bedrooms | $472.5K | $452.5K | -4.2% |
4 Bedrooms | $520K | $500K | -3.8% |
5+ Bedrooms | $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 2024 | May 2024 | CHANGE |
---|---|---|
110 | 122 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 49 | 52 | +6.1% |
4 Bedrooms | 33 | 34 | +3.0% |
5+ Bedrooms | 27 | 35 | +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 2024 | May 2024 | CHANGE |
---|---|---|
18 | 20 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
64 Days | 41 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
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.