Don’t let us burst your bubble, but it doesn’t look like Denver Metro real estate market is in a bubble. All of the indicators we follow show stabillity and signs of continued growth in this market.
Average sold prices held steady with slight increases in multi-family, showing an average of 8% increase over this time last year across both categories. Now is still a very good time to buy and sell, although interest rates have come up a bit. Days on market is up slightly, which is typical for this time of year, and thankfully is not impacting prices overall. Single-family home supply is down sharply from last month, and slightly looking at homes active on the market last year. Multi-family supply is down sharply from last month, reflecting high consumer demand across both categories. The number of homes sold last month increased in both categories over activity this time last year.
So, what does this mean if you’re thinking about selling your home/townhome/condo? Now is a very good time to sell. Keep in mind, that the prettier your home — and more appealing to consumers — the faster it will sell, for more of a net return to you at the closing table. Ask us about our built-in professional cleaning and staging services, which take the guess-work (as well as much of the literal work!) off your hands, putting your home head and shoulders above the competition. We guarantee a faster sale, at a better price by consistently leveraging these proven industry techniques.
What if you’re buying? As I tell most of my Buyer clients, there isn’t a better time to buy a home (with less competition) than in the winter months. Sure, inventory may be slightly down from the Spring and Summer rush, but the pace is a little easier, looking at the days on market in the above graphic. In most cases, time is on your side and you can take a more deliberate approach to the home purchase process. Another benefit of purchasing now rather than waiting for spring is creating instant equity, since prices tend to jump upward. Buying now could save you 3-5% that becomes equity — and you know what they say, a dollar saved is a dollar earned! If you are looking to purchase a home in the next two to six months, call us for a no-cost assessment of your situation. Our qualified team of real estate professionals will help find the perfect property to meet your needs.
Thinking of buying or selling a home? Call on our team of professionals at Come on Home Colorado LLC! Don’t settle for anything but the best. #denver #realestate #ComeOnHomeCO
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