The latest Denver housing market report for May 2021 showed how great the demand is for residential properties especially single-family detached homes in Wheat Ridge, Colorado. The Denver real estate market still shows extreme seller's market, though closings are still happening and up by 18.78 percent with active listings being down by 4.11 percent compared to 2020's Denver housing market report.
There are still more buyers looking to buy than there are available homes for sale in Wheat Ridge, Colorado. As expected, it's also showing a strong seller's market for every property type and every price point of homes for sale in Wheat Ridge, Colorado. It has been an unpredictable year in the Denver housing market, lacks seasonal consistency considering the rainy weather and prices still continue to rise. On the last day of May 2021, there were still only 4,343 active properties which is still the lowest May on record compared to the previous year's 15,707.
The main focus of this real estate market report is the homes in East Wheat Ridge, from 26th Avenue to 44th Avenue and Sheridan Boulevard to Wadsworth Boulevard. In May 2021, there were only 4 active homes for sale while May 2020 had 19 active homes for sale in Wheat Ridge, Colorado. Andrew Abrams, Chair of the DMAR Market Trends Committee and Metro Denver REALTOR®, said "Like a marathon, buyer fatigue has slowed people down but has not stopped anyone from crossing the finish line. Interest rates continue to be relatively low and consistent. Listings continue to slowly hit the market, while buyers continue to gobble up properties as soon as they do. A direction of resiliency, strength, and the possibility of fun was on the horizon. For sellers, the latter has proven true while buyers continue with themes of resilience and strength to overcome this tough seller’s market.” Buyer fatigue is very common in this competitive Denver housing market however, that does not stop the Denver Metro area buyers from slowing down or giving up because of increased opportunities rising in an extreme market.
As one reflects on May 2021 housing market report in Wheat Ridge, Colorado where it showed 22 sold properties in East Wheat Ridge, Colorado compared to 2020's 13 properties just proves that the market is hot, hot, hot. The closed price for homes in Wheat Ridge, Colorado went up from last year's $482,192 to a whopping $671,000 for May 2021. Not only that, the average listing price for homes in Wheat Ridge, Colorado is now up to $630,047 which is a 106.5% difference to the closed price over the listing price.
If you are planning to sell your home in Colorado, now is the best time as you can still expect multiple offers and can also expect over asking price. On the other hand, if you are planning to buy a home in Colorado, it can be challenging as there is a lot of competition. You deserve a real estate agent who has a proven strategy, a strong negotiator, and backed with experience to help you be successful in today's challenging Denver real estate market.
If you are looking for homes for sale in Wheat Ridge, Colorado, we can help you find the perfect home for you.