Market Update: Centennial, Colorado

Jeffrey Beattie | Alliance Mortgage Group, Inc.
Call Us at 720-598-0506

The local real estate in Centennial, Colorado has been consistently increasing in cost over the past three years. As your local Centennial mortgage lender, I am always up to date on the recent trends of the area to provide you accurate numbers and assist you on when the best time to buy is

According to Realtor.com, the median listing price in Centennial, Colorado during March 2015 was $350,000, and this price increased 8.5% the following year. By March 2017, the median listing price was $415,000 and the current median price is now listed at $435,000. Comparing the 2015 and 2018 prices, there has been an overall rise in price of 24%. This consistent increase in the residential market could suggest that the population of Centennial is growing and therefore homes are in higher demand.

The price per square foot has followed similar exponential trend as the median listing price. In March 2015, the price per square foot was $136 and jumped to $150 the next year. The square footage price from March 2017 was $161 and the current price is now $175. This 28% increase in square footage price over the last three years suggests that the real estate in Centennial is becoming more valuable too.

When looking for a Centennial mortgage, it is important to be familiar with the residential market and know how much the average home prices are going for and how long homes are typically listed on the market. In March 2015, the median days on the market was 40, and rose to a peak of 58 days by 2016. This time dropped down to 56 days the following year and by March 2018, the median days on the market is listed for 39 days.

If you are looking to buy a home in Centennial, Colorado, now would be a great time to buy before the housing prices continue to rise. To get started on the home purchasing process, contact me, your local mortgage broker in Centennial, at 720-598-0506.


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