The stats are out for the month of February, and the numbers reflect a slight increase in sales from January. There was a significant increase in inventory from last month which is very typical this time of year. We are seeing many spring-like days in between snowstorms.
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 have been hovering around 1700-1800 each week and homes returning to market have been around 250-300 per week. The inventory has increased giving buyers many choices and is getting close to 9,000. (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 did decrease a bit this week. 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! The inventory is increasing (ever so slightly). 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! The inventory is increasing homes, some are sitting on the market for a bit longer than normal. Patience is key, we are seeing the number of showings increase and if priced right and shows well. 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.
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