Denver Sales for April 2023 - What's the Market Doing?

Denver

The stats are out for the month of April, and the numbers reflect a slight decrease in the spring buying season.   The inventory increased slightly from last month but increased 6.6% over last year.  

This data is courtesy of Joan Cox - House to Home, Inc.

I track data daily for the Denver metro area, and the amount of price reductions has been hovering around 950-1050 each week and homes returning to market have been around 250 per week.   The inventory this time of year is seasonally low, and is around 5,000 during the week, and today saw 5077.   This will be a holiday weekend, so probably lower new listings this weekend.  Last weekend we saw almost 5,500 listings.  (includes land up to high-end homes)

See what homes are currently available - Active Homes for sale in Denver

Buyers - If you have thought about buying a home this year, rates are bouncing around, and now seeing some multiple offers on properties.  Showings have picked up too.   Rates may be holding you back, but you no longer have to pay thousands over fair market value, there are sellers possibly willing to give you concessions for your closing costs and no one is waiving inspections right now!

Be sure to be pre-approved and know what your budget is!    With increased inventory, you now have a bit more of a selection and don't have to narrow your criteria.    We are also seeing a few homes returning to the market, so it would be a good idea to write a backup offer if you did not "win the bid", as you may get a second chance.

Sellers - My sellers are seeing a nice bottom line!    Even though the inventory is holding steady, there are buyers out looking for their dream homes.   Patience is key, we are seeing the number of showings increase and if priced right and shows well, you could see multiple offers.     Buyers are looking for homes ready to move-in, so fix those items you know are issues before listing!

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.