Denver Real Estate Market Update

The bottom line upfront is our Denver area market, while no longer ULTRA hot, is still very much a red hot market, with a few more home buyer opportunities available.

So, what are we seeing out there?

Active home listing inventory continues to climb….
The Average number of buyer showings per home listing continues to decline….
And, as a result, it’s taking a little longer on average for homes to go under contract..

But, surprisingly, on average, homes were still selling at a 3% premium – meaning, 3% above list price. Sure, that’s down from the 5% premiums we saw earlier this year, but this really is great news. We may even see this premium drop to 0% in the coming months.

For homebuyers, our shift in the market could be a great opportunity to have a few more options to choose from – and you may just find yourself as the only offer on the table.

For sellers, you’ll need to do the work to make your home show ready, take every showing you can get, and be prepared to adjust price to stay competitive.

To read more about our current market conditions here in the Denver area, go check out our latest blog at modernwesthome.com. Thanks for watching!

Serving Veterans in Colorado

ModernWest Home is passionate about serving military Veterans from Fort Collins to Boulder and Denver to Colorado Springs. We’re on a mission to see Veterans’ lives transformed through real estate. Whether you’re on active duty, reserves, National Guard, or a Veteran, we’re ready to walk alongside you to help you find real estate success in the Denver metro area and Colorado Front Range. Let us show you how working with a team that understands Veterans can make all the difference.

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Drew is a phenomenal agent and an incredible advocate for his clients. He was supportive and proactive at every step of the home-buying journey. I can give no higher endorsement!
Drew is an outstanding individual and has built a fantastic team. The service and value he provided exceeded my expectations. He provided timely and appropriate updates throughout the process and guided us masterfully. Our house sold for our asking price and I could not have been happier with the end result. I strongly recommend Drew Morris!
Drew made our first home buying experience exceptional! We had a week to find a home before we moved out to Colorado, and Drew made that happen. He took care of us throughout the entirety of our move. He was responsive and answered any questions we had. If you’re looking for a realtor who is going to take care of you from start to finish, Drew is your guy! Thank you for everything Drew! We love our new home!
Drew made our home buying experience painless. He gave great advice on putting our offer in, and we got the house we wanted. We were working from out of town, but Drew and his team made it very easy to go through the offer, virtual tours, and negotiations remotely.
Drew and his team were excellent partners throughout our first time home buying process. From our initial introduction call through closing and beyond, Drew’s team was incredibly professional, responsive, and helpful as we navigated our home purchase. We highly recommend Drew’s team and plan to partner with them again for future real estate purchases or sales!
Drew and his team were great again in selling our home. Drew’s professionalism and knowledge helped us get a great price on our home. He has a very calm manner which is much appreciated when buying and selling a home. I’m always impressed with what he offers his clients in selling a home, staging advice, excellent photos, 3D tour and now video. As always, I highly recommend Drew for buying and selling a home.

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