In some areas, our market is still great for sellers. But if you’ve been reading my past market stats blog posts, you’ll know buyers are seeing their time to shine, too. In short– our market is not too hot, but not too cold either .. hello goldilocks! We ended this half of the year with the most active listings so far in 2019 (a total of 9,520). We’re seeing continued low rates and a higher number of inventory, which means buyers are starting to gain an advantage.
Sellers have had to make price adjustments to keep up and be competitive. Additionally, sellers with homes priced between 1,500,000-1,750,000 are taking the largest cuts in this regard (91.20% sale-to-original price ratio for detached homes; 94.9% for attached).
In addition to sellers making price adjustments, we’re seeing homes staying on the market longer this year than we have in recent years. This is another sign that buyers are finding their place in the Denver Real Estate market! The average days on the market are up 67% from six days at this time last year. Buyers…. now is the time to start seriously thinking about jumping into the game! Our market is beginning to finally even out.
Additionally, Realtors are seeing an increase in price reductions if no showings or offers are made within the first few weeks a property is listed.
Did you know Denver was named the number 1 city for gig economy jobs? That means jobs like uber, lyft, instacart, etc. I know a lot of people who are dipping their toes into these jobs…. and they seem to be paying off! Not to mention we were rated the 6th best large city in America by Resonance Consultancy.
Are you a beer lover? Denver ranked number 18 on the list of most craft breweries/city. Which are your favorites? Tag #goexploredenver on instagram to show me your craft brew photos!
You might be surprised, but we were also ranked the 17th most affordable city in the country. LA came in as the least affordable, with Detroit being the most. Our net migration increased 51,127 since 2017. Can you put two and two together?!
Back to real estate…. Colorado makes the bottom 5 of the size of a home you can purchase for 300,000. What can that get you on average? 1,213 sq ft. Tag me on instagram with your thoughts on these numbers!
Denver’s Real Estate Market is always changing. Having an experienced Realtor is the best way to ensure your buying/selling process goes smoothly. I would love to work with you to help you fin/sell the perfect home. Contact me!