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METRO DENVER REAL ESTATE MARKET UPDATE MARCH 2013
The Denver Real Estate Market is going into new territory with data we haven’t seen since 1985! As you may know, we seem to be in a full Seller’s Market in most price ranges as inventory has continued to shrink. Two reasons for the inventory issue: First, many sellers are still waiting for prices to get to a point where they have enough equity to consider selling again and can afford to buy another home. Second, we have a unique time in the market where more homes went under contract in February than were newly listed! Thus, our single family home inventory went down again to approximately 5,500 homes. Incredibly low!
We should see an increase of new listings over the next 3-4 months, but if the trend continues Buyers will gobble those up as fast as they come on. We are seeing prices go up in some price ranges that were unimaginable a few months ago! If you’ve been thinking of putting your home on the market, now’s the perfect time. There are plenty of buyers now and you’ll avoid competition from other sellers.
Market Metrics: (See Graphs at end of the article)
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