The stats are out for the month of May, and it was another very busy month! As of almost mid-June, we are seeing more new listings than previous months, but down 76.6% over one year ago. I think many Sellers are nervous about listing their homes and not knowing if they would be able to locate a replacement home! We are seeing many listings with a 30-60 rent-back for the seller. In the earlier months this, Buyers were having to offer thousands over list price to their contract price just to "win the bid" and were seeing up to 20 offers per home. There are still multiple offers, just not as many now.
Seeing just 12 days on market for the entire metro area, and for all property types is amazing! Most are going pending within 3-4 days (a weekend). Sellers saw 105.3% to listing price versus last year of 99.4%.
The data is courtesy of Joan Cox - House to Home, Inc.
We are seeing some homeowners pricing their homes higher than "fair market value", and actually seeing some needing to do price reductions. 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. You can buy more home than you could last year. Be sure to be pre-approved and know what your budget is! Be prepared, many homeowners are asking for a 60-day rent back 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 or request a 30-60 day rent-back from the buyers.
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.