Is it a Buyer’s Market? Seller’s Market? How long are homes taking to sell?
Like most of the country, the Denver metro area is still experiencing high prices driven by continued low inventory. Higher interest rates have led to a dramatic drop in market activity & require creative techniques for both Buyers & Sellers to continue conquering the market.
We’re shifting more toward a more balanced market, with interest rates clashing with longer days on market & continued low inventory which is keeping prices somewhat elevated. Sellers not only need to look at their pricing to entice buyers, but need to offer more interest rate buy down incentives & should expect to negotiate more on an offer and on an inspection. Buyers are struggling with a smaller selection of homes & while they typically aren’t writing over-the-top offers to compete, the right home at the right price will still sell quickly & can buck current trends!
It’s an increasingly sticky situation, with Sellers loathing to relinquish their low interest rates resulting in still-tight inventory. Buyers are put off by higher payments due to high interest rates, so that pool has also been drained.
Does your Realtor have the experience & the know-how to best leverage this market knowledge to your advantage, whether you’re a Buyer OR a Seller? Can you compete in a still-tough market? If not, then you need some Fresh Air in your Real Estate Transaction!
Don’t just take our word for it — check out the market statistics from the Denver Metro Association of Realtors (DMAR) & the RE Colorado MLS for yourself!
DMAR March 2024 Market Trends Report (for February Stats) – NEW!
March2024-REColorado Denver Metro Market Watch Report – NEW!
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DMAR February 2024 Market Trends Reports (for January Stats)
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DMAR January 2024 Market Trends Report (For December 2023 Stats)
Denver Matrix MLS January Market Watch Report