The stats are out for the month of February, and it was a busy month! As of the end of February, we experienced SERIOUS low inventory, down 8.2% over one year ago. I think many Sellers are nervous about being able to locate a replacement home!
The following data is courtesy of Joan Cox - House to Home, Inc.
GOOD NEWS - this past weekend we saw a huge uptick of more new listings than past weeks, and sure hope this trend continues. It will be much easier on buyers!
We are seeing homeowners pricing their homes higher than "fair market value", and also seeing offers WAY over list price. 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.
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.