The stats are out for the month of April, and it was another very busy month!   As of almost the end of May, we are experiencing SERIOUS low inventory, down 69.5% over one year ago.  I think many Sellers are nervous about listing their homes while we are seeing the virus, and not knowing if they would be able to locate a replacement home!  But they sure are seeing a great bottom line!   Buyers are having to offer thousands over list price to their contract price just to "win the bid".   Multiple offers are being seen on most homes.

 

 

The following data is courtesy of Joan Cox - House to Home, Inc.

 

We are seeing some homeowners pricing their homes higher than "fair market value", and also seeing offers WAY over list price and multiple offers.   Appraisers are trying to make it work, but it helps when buyers "make up the gap" between the purchase price and appraised value.

 

See what homes are currently available - Active Homes for sale in Denver

 

Buyers - If you have thought about buying a home this year - NOW IS THE TIME!   The interest rate is unbelievable - below 3%.  You can buy more home than you could just six months ago.  Be sure to be pre-approved and know what your budget is!  Be prepared, many homeowners are asking for a 60-day rentback to find a replacement home.

 

Sellers - My sellers are seeing a nice bottom line!    If you are thinking of selling but worried you won’t find a replacement home, I can enter into MLS the fact you require a contingency of a replacement home.    

 

Homeowners - if you have thought about selling and like like a home evaluation, please let me know, I will contact you right away.  Relocating to Denver, and need some advice - see my Relocating to Denver information.