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 October 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

$489,424

$245/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$10,575(-2.1%)

Key Takeaway

Homes in Severance have sold for 2.1% less than they did a year ago.

Summary: The median home sold price in Severance was $489,424 in October 2024, down 2.1% from last year, and the median price per square foot was $245.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $395K$975K
+146.8%
3 $459.9K$455.8K
-0.9%
4 $510.1K$511.4K
0.3%
5+ $607K$575.5K
-5.2%

Summary: Severance housing prices by bedroom type for October 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 decreased by 0.9%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 5.2%.

Housing Supply in Severance, CO

How many homes are available in Severance, CO?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
136132-2.9%

Summary: The Severance real estate market had 132 homes for sale in October 2024, a 2.9% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 4647
+2.2%
4 5651
-8.9%
5+ 3433
-2.9%

Summary: The Severance housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 8.9%, and 5+ bedroom homes decreased by 2.9%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2321-8.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

7 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, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in Severance in October 2024, down by 8.7% month-over-month. Of the 21 sold homes, 43% were sold under asking, 33% were sold at asking, and 24% 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

Oct 2023Oct 2024CHANGE
47 Days127 Days+167.9%

Summary: Homes in Severance had an average of 127 days on market in Oct 2024, up by 167.9% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Severance are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 21 homes were sold in Severance; 43% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 33% 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 16 Days Ago

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