Denver Real Estate Market Continues To Steady

Dated: 10/28/2019

Views: 277

Image titleBy combining statistics from the RE Colorado MLS with further research by LIV Sotheby’s International Realty, the Denver Post recently published a feature giving a great overview and recap of the city’s current real estate climate. According to their findings, all signs point to Denver becoming a more stable, predictable market.

Report highlights include:

  • By averaging price ranges (single-family/with condo sales) and comparing information from September 2018 to September 2019, the Post found sales increased from 3%-6% (according to three surveys).

  • “New” listing inventory is 5% higher, giving buyers more homes to view — while days on the market increased by about 25% from 25 to 32 days before selling.

  • Available inventory was relatively low over the past few years, indicating sellers might be in the driver’s seat. However, that is not the case. It may no longer be a seller’s market, but do not consider this a buyer’s market either.

  • Additional “for sale” inventory means it takes longer to receive an offer, and buyers can more comfortably shop for a new home and negotiate with sellers a little more this year. In August, 37% of properties sold (all price ranges) had price reductions prior to receiving an acceptable offer.

  • If you want, or need, to sell rather quickly, price your property at market value, or even a little below. Many times, sellers wait too long testing the market before reducing the price and ultimately receive less than what they may have achieved with proper evaluation.

With inventory increasing and prices keeping steady, now may be a perfect time to become a homeowner in the Mile High City. Contact Metrowest today – we’d love to show you around!

Blog author image

Ann Potarf

Ann Gould Potarf is a native of Denver and a graduate of Colorado State University. Her most recent experience was carrying on her dad’s legacy and restoring the dignity in the less fortunate and h....

Latest Blog Posts

How You Can Help Your Community Through COVID19

With concerns about the Coronavirus heightening every day and information updating nearly constantly, droves of Coloradans are coming together to help their neighbors far and wide. It’s important

Read More

Denver Slips In Popularity Rankings For Commercial Real Estate Expansion

For years Denver has been considered one of the hottest markets in the country for real estate and expansions. However, at least among local commercial and real estate pros, it appears that trend

Read More

Top 4 Colorado Cities To Be A Home Seller

If you’re considering selling your home in Colorado, now might be a good time. But if you live in Denver, Arvada, Lakewood, or Aurora, it could be a great time. At least that’s according to

Read More

Im Relocating And Need To Sell My House In Denver Article your house fast with multiple offers to chose the right one and net the highest $ to you! Fast, flexible

Read More