This Summer, The Condo Market Is Sizzling Hot!
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| Trail Creek Ranch Condos |
If you have tried to purchase a condo this summer in the Greater Denver Metro Area, you may have found that there is a shortage of inventory to choose from. However, according to the Caitlin Hendee of the Denver Business Journal the low number of inventory is beginning to steadily rise. Also, out of the 1,852 condo listings in May, 1,493 of those listings went under contract, which gives validity to the demand of condos.
An example of this sizzling hot condo market is the condo I recently put up for sale. On Friday within two hours of it going active, I had received three offers. Over the weekend, I received two more offers with the condo viewings booked all day. The owners originally wanted to keep the condo on the market as long as possible. However, with the huge demand to view the condo, it was disrupting their daily activities and decided to go with one of the five offers received. As a result, the condo went under contract with an offer for $12,000 over list price. My sellers were happy to have the condo under contract in such a short amount of time and with an offer over list price. Also, the buyer's were happy, since this was their third attempt at putting an offer on a condo in the same complex.
What is your experience this summer trying to buy or sell a condo in the Greater Denver Metro Area?
Are you looking to buy a condo? Search for Condos for sale in the Denver Area.
Ready to sell your condo? Find out what your condo is worth.
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