Is Severance, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Severance has remained a Seller's Market.
Housing Prices in Severance, CO
How much do homes in Severance, CO cost?
Median Sold Price
$484,777
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Severance was $484,777 in March 2024, down 6.6% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $457.5K | $447.4K | -2.2% |
3 Bedrooms | $479K | $456.7K | -4.6% |
4 Bedrooms | $520K | $500K | -3.8% |
5+ Bedrooms | $610K | $555.9K | -8.9% |
Summary: Severance housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.2%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes decreased by 8.9%.
Housing Supply in Severance, CO
How many homes are available in Severance, CO?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
125 | 113 | -9.6% |
Summary: The Severance real estate market had 113 homes for sale in March 2024, a 9.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 64 | 53 | -17.2% |
4 Bedrooms | 33 | 32 | -3.0% |
5+ Bedrooms | 27 | 27 | 0.0% |
Summary: The Severance housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 17.2%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
29 | 29 | 0.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 29 homes were sold or pending in Severance in March 2024, the same as the previous month. Of the 29 sold homes, 38% were sold under asking, 24% were sold at asking, and 38% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
91 Days | 71 Days | -21.5% |
Summary: Homes in Severance had an average of 71 days on market in Mar 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 29 homes were sold in Severance; 7% of homes were sold within 30 days, 76% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.