Denver Real Estate Statistics – February, 2018
HOW HAS THE NEW YEAR KICKED OFF FOR THE REAL ESTATE MARKET?
January has come and gone, and many were wondering what would happen in the Denver real estate market in the new year. Now we know that things have not slowed down, and inventory remains as low as ever. In January, the number of homes Under Contract was almost the same as the number of new listings. “This means that as fast as listings come on the market, they are placed under contract,” reports Steve Danyliw, chairman of the DMAR market trends committee. Because of this high demand, Buyers are often frustrated and continue to find themselves in multiple offer situations, competing to purchase a home. Alternatively, it is exciting for Sellers who are able to get top dollar for their homes.
We’re coming up on the hectic Spring Market, which is the time of year when buyers are traditionally out looking and wanting to purchase property, so we can only expect things to get even crazier with even more demand here in Denver. Thinking of selling? Now is a great time! Depending on which town or neighborhood you live in, you might be able to receive multiple offers over asking price. I would work with you one on one to determine the best strategy to get the highest profit in the sale. Every property is unique, and I would love to run a customized report to see just how much your property might bring you!
What does this all mean for buyers? There is still hope! Even though homes are snatched up quickly, there were more new listings that hit the market last month, so with some smart strategy and a savvy offer, it is certainly possible to get that home that you are searching for. It may seem intimidating, but I pride myself on helping my clients present the best offer to help achieve the home of their dreams.
Since it’s only February, it will be interesting to see how the year unfolds. With the prospect of Amazon’s headquarters coming to Denver, we may see new issues with inventory and demand. But as we navigate the current waters, there are homes and properties being built to help ease the strain and create opportunity for weary buyers.
If you are considering entering the market – or even if you are nervous about what it would all entail – feel free to contact me! It’s a unique market here in Denver but there is still quite a bit of opportunity. I can help you navigate the way!