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The Market is Shifting
Buyers are coming out of the woodwork looking for homes, but not finding much to choose from, especially in the under $300,000 price range.  We are counseling buyers in this price range to be ready to jump quickly on any house that comes on the market that meets their criteria.  That means being pre-approved for a loan, have earnest money ready, and being ready to make a quick decision.  This price range is no longer a buyers’ market; it is a sellers’ market, with many properties getting multiple offers within days of being placed on the market. And the closer your offer is to list price, the better your odds of getting the property.  For buyers who want to “sleep on it” before making a decision, they most likely will not “sleep in it”.
Based on available inventory and sales levels, we have a 1.7 month supply of single family homes and a 2.4 month supply of condos.  No wonder there is a bidding war for many homes in this price range!   See this link for more information:  Denver real estate market is 2nd fastest selling in the nation
Market Metrics:
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