How’s the real estate market in Denver?
It’s an important question as the answer plays directly into how you approach your real estate strategy whether a home buyer or home seller.
In the video above, Rodd and I touch base on a few important points on the market, homebuyers, and how you can find success in this market too!
Let’s look at a few of the pieces of data I reference in our market update video.
The biggest takeaway from the graph below is that demand continues to outpace supply. We’ve seen anywhere from 4,000-5,000 less homes come on the market. Yet, at the same time, the number of closed sales is exceeding last year. Prices have jumped to their highest points ever this year as a result.
Check out the yellow line below. I’m sure you’ve heard people talking about home prices falling. But, with active inventory at its lowest levels in at least 13 years, how could that happen? Demand would literally have to disappear. What are the chances of that happening?
Home continue to go under contract at a blistering pace. The only way that’ll slow down is overall is if we get more home inventory on the market or buyer demand slips as a result of rising interest rates.
Denver is very much in a seller’s market with no end in sight. While that does sound daunting for homebuyers, remember that low interest rates have helped make fixed monthly payments still look attractive, despite what the price looks like. You also need an experienced, hustling team to make your real estate dreams a reality.
Our team would welcome the chance to be your guides in the purchase or sale of your home. We’re here to serve you and help you in your real estate journey. Reach out anytime!