Denver Real Estate Market Update

If you’re a homeowner in the Denver Metro area or if you’re considering purchasing a home in the near future, you’re probably keeping a close eye on what’s happening in our local real estate market. There is no mistaking that our housing market has felt like it’s come to a sudden stop recently. New listings… closed sales…pending sales.. they all plummeted in this last quarter. So what does this mean for you? Here are three things that I want you to know about the Denver real estate market right now: we

Number one. Home price growth has slowed dramatically, but it hasn’t yet fallen. The average home price was still up about 4.5% year over year in November.

Number two. I haven’t seen an opportunity for homebuyers like this since 2010. If you were pushed out of the market previously because of overbidding, appraisal gaps,… that has become the exception in today’s market. Our recent home buyer clients have been getting big wins with negotiating lower prices, cash toward closing costs, and inspection repairs.

Number three. it’s important to note that’s also not a free-for-all. Sellers are not just giving their homes away despite a decrease in home buyer demand locally. The average discount on price right now is about 1.9% so if you were buying a $600,000 home that would be about $11,000.

I know we can’t predict what is next for our Denver real estate market but what we can do is keep you informed and help develop a plan with you to navigate this market successfully.

For more tips and knowledge about the Denver real estate market follow us on social media and modernwesthome.com.

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 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 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 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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