The stats are out for the month of October, and it was another strong month! As of almost the end of November, we are still experiencing low inventory (hovering around 2,500 on weekends), down 52.3% over one year ago. I have had potential Sellers who want to list and buy, but are fearful of not finding a replacement home, so they stay put and remodel. But when they do list, they sure are seeing a great bottom line! Multiple offers are still happening, just not at the same pace, it did earlier this year.
This data is courtesy of Joan Cox - House to Home, Inc.
Lately, we are seeing homeowners pricing their homes a bit closer to fair market value, and seeing fewer price reductions right now. Between Thanksgiving & New Year's is the best time to be a non-contingent buyer. The buyers out this time of year are TRUE buyers.
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 - hovering around 3%. You can buy more home than you could just six months ago. Be sure to be pre-approved and know what your budget is! Be prepared, many homeowners are asking for a 60-day rent-back to find a replacement home.
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.