The Denver real estate market has been going gangbusters with the Spring buying season in full swing!   Inventory has increased in the last couple of weeks, making it easier for Buyers with less multiple offers.   The following data is courtesy of Joan Cox - Metro Brokers - House to Home, Inc.

 

Denver saw a 5.4% increase in listings over March 2017, an increase of 7.5% in under contract properties and a decrease of 3.9% sold properties.  With the increase in listings, we are not seeing the hoards of showings we did earlier in the spring.    Here are the current active listings in Denver. The average days on market in the entire Denver market is only 22 days - and this includes land, attached properties, single family homes up to the mega million dollar homes.    That is very low!   This number of days on market decreased from 28 days in March 2017.  The market has kicked off very strong this year with a very mild winter and early Spring.

 

Buyers - inventory has increased, so you may not see 10+ offers on homes, but you may need to compete with some other offers if the home is priced right, shows well and is in a highly desired area of town.   The price range between $200,000 and $450,000 has been the "sweet spot" and these homes are the ones garnering the most showings and offers.   Typically, homes come on the market late in the week, with showings over the weekend, and responding to offers on Monday.

 

Sellers - we are seeing some homes now reducing their sales price, as the inventory has increased, and is best to list your home at the fair market value, not thousands over this in hopes of reaping the benefits of a Seller's market.    You may still get over fair market value, but you do want Buyers to view your home, so pricing is key right now.   If you are thinking of selling, but worried you won't find a replacement home, I put into MLS the fact you require a contingency of a replacement home.

 

The following data includes both detached and attached properties across the Denver metro area including counties of - Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson & Park.   If you need more detailed information for your specific neighborhood, give me a call.  Real estate is and always will be local.

 

Denver's unemployment rate is very low - 2.3% (May 2017) compared to the national average of 4.4 (April 2017), so Colorado's economy is very strong.    Colorado's population is 5.457 million, with the Denver metro area seeing 3.075 million and Denver proper is 683,096.   Denver has outpaced most large cities across the Country and expect to see by 2020 a population of over 3.3 million.   We are seeing many corporations relocating their headquarters or putting in a hub into the Denver metro area, creating job growth.

 

Homeowners - if you have thought about selling and would 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.