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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Severance is a buyer's market

Buyer's
Market

Difference Since November 2023

Since last year, Severance has remained a Buyer's Market.

Key Takeaway

Severance is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Severance, CO

How much do homes in Severance, CO cost?

Median Sold Price

$493,500

$240/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$2,321(-0.5%)

Key Takeaway

The sold price of homes in Severance has remained the same since last year.

Summary: The median home sold price in Severance was $493,500 in November 2024, down 0.5% from last year, and the median price per square foot was $240.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $395K$975K
+146.8%
3 $455K$458.9K
+0.9%
4 $510K$515K
+1.0%
5+ $580.9K$580K
-0.2%

Summary: Severance housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 146.8%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 0.2%.

Housing Supply in Severance, CO

How many homes are available in Severance, CO?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
126125-0.8%

Summary: The Severance real estate market had 125 homes for sale in November 2024, a 0.8% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 11
0.0%
3 4746
-2.1%
4 4646
0.0%
5+ 3232
0.0%

Summary: The Severance housing inventory by bedroom type for November 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 2.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2113-38.1%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Severance, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Severance in November 2024, down by 38.1% month-over-month. Of the 13 sold homes, 46% were sold under asking, 46% were sold at asking, and 8% 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

Nov 2023Nov 2024CHANGE
49 Days51 Days+3.4%

Summary: Homes in Severance had an average of 51 days on market in Nov 2024, up by 3.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

7 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 November 2024, 13 homes were sold in Severance; 31% of homes were sold within 30 days, 54% of homes were sold within 30 to 90 days, and 15% 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 17 Days Ago

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