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Denver Market Trends - April 2021

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

The stats are out for the month of April, and it was another very busy month!   As of almost the end of May, we are experiencing SERIOUS low inventory, down 69.5% over one year ago.  I think many Sellers are nervous about listing their homes while we are seeing the virus, and not knowing if they would be able to locate a replacement home!  But they sure are seeing a great bottom line!   Buyers are having to offer thousands over list price to their contract price just to "win the bid".   Multiple offers are being seen on most homes.

 

 

The following data is courtesy of Joan Cox - House to Home, Inc.

 

We are seeing some homeowners pricing their homes higher than "fair market value", and also seeing offers WAY over list price and multiple offers.   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 - below 3%.  You can buy more home than you could just six months ago.  Be sure to be pre-approved and know what your budget is!  Be prepared, many homeowners are asking for a 60-day rentback 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.    

 

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.

 

 

Posted by

Joan Cox
Broker/Owner, REALTOR®
House to Home, Inc.

Serving the Denver Metro area including all suburbs


Helping Buyers and Sellers achieve their real estate dreams, one house at a time!

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Comments (8)

Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Hi Joan,  Thank you for sharing the market report for Denver.  Low inventory seems to be prevalent in many areas right now.  Wishing you continued success.

May 19, 2021 04:41 PM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Joan - I think the sellers might be more conerned about finding another house than the virus.

May 20, 2021 03:53 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Joan... here in Charlotte area well over two thirds of our listings are going into multiple offers. I had clients  who had lost out on a home in April that just closed at $53,000 over ask... really mindboggling for homes in the $400,000's.

May 20, 2021 04:40 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your local real estate market reports.

May 20, 2021 05:17 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Bob, low inventory is definitely the conversation around Denver! 

May 20, 2021 06:17 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Grant, that is probably more the case.

May 20, 2021 06:17 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Nina Hollander, Broker we are seeing some homes going for over $100K over list!  

May 20, 2021 06:18 AM
Nina Hollander, Broker

Joan Cox we see that too, but it depends on the price range. Homes in the lower $400,000's aren't selling at $100K over ask... they would never appraise and most buyers in that price point won't make up the appraisal differential.

May 20, 2021 06:31 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thank you Roy.

May 20, 2021 06:18 AM