Every time we turn around, there is someone professing the market is SLOW, and homes aren't selling in Denver. That is true when the home is priced too high, needs repairs or the location is less than desirable. We were slowing in December, but right after the Holidays were over, we started seeing an increase in showings. These buyers could be "just looking", but nice to see so many showings again!
Our inventory has not increased much since the first of the year, still hovering just under 5,000. To give you perspective, during the housing crash of 2008, we saw around 25,000 listings. Early 2022, we had 2,000 listings, so a bit better than then, but still not enough for the population we have in Denver.
The price reductions have decreased, but the "back on market" properties are increasing. This indicates that buyers want a home ready to move in, and not buy a home riddled with needed repairs. Get these done prior to listing! This will equate on your bottom line!
In the next few months, I expect we shall see an increase of listings, but also believe the pending properties will increase, leaving the total active listings low. Interest rates have been decreasing, which sure is nice for buyers!
Thinking it is time to sell or buy your first home, check out my buyers page. Moving up, moving down? Give me a call, I can assist you with your real estate needs. Find out what your home is worth here.