Real Estate Market Update

Hot or Not?

According to Forbes, Denver still ranks as the number one most competitive housing market in the nation. This is somewhat of a shock to us since we’ve recently experienced mixed results with our current listings.  We recently sold a listing that had 32 showings in 3.5 days and received 4 offers over the asking price.  We have also experienced fewer showings on our current listings, resulting in more days on market than in recent seasons.  As long as the property is priced correctly (all things considered) and shows perfectly (10 out of 10), then typically we expect it to sell quickly.  However, this also depends on whether or not you have higher inventory/competition in and around your property.

We are now well into 2019 and seasonally the best time for sellers to list is February, March, April, and May to take advantage of the lower inventory/less competition.  Typically starting in June, under contract homes have historically declined so listing earlier is imperative for a Spring sale.

Like to know more about the your specific neighborhood/sub-market within the Denver Metro area Real Estate market? Contact us at Brick and Main RE today.

Did You Know?

Unemployment dropped to 3.7% in November 2018, almost a 50 year low. It rose slightly in December to 3.9%. In Colorado, our unemployment rate is lower then the national average at 3.5%.

It is still a great time to sell! Please let us know how we can help when you are ready to list your home?

Buy Now or Later?

We’re experiencing the overall market leveling out and becoming more of a balanced Buyer’s & Seller’s market versus the Seller’s market that it has been for the last seven years.  Furthermore, in some sub-markets we are actually getting some of our buyers a discount off the listing price and/or seller paid closing costs.  Also, some builders are starting to accept contracts/offers from our buyers with a property to sell.

What’s Happening in Denver?

The 15th Annual Denver Restaurant week takes place Feb 22nd-March 3rd, 2019. Hundreds of top Denver Restaurants will offer multi-course meals for three tasty prices $25, $35, or $45.  Find the list of Restaurants and menus at www.denver.org/denver-restaurant-week/menus/