As of today, there are only 7,094 homes on the market in the Denver area.
To the general public, that might seem like a high number...but as Real Estate pros, we know that this is actually a crazy low level of inventory.
What does this mean for you?
As a homeowner looking to sell, this might be the perfect time...there is WAY less competition than usual, no matter what area of town you live in, so buyers are more likely to act quickly, look past the little things that might not be perfect about your home, and write a stronger offer than they would if there were more homes to choose from.
As a person thinking about buying a home, it's important to have an agent on your side who knows how to write a great offer (which isn't always necessarily the highest), who is willing and available to show you homes as SOON as they go on the market, and who has an inside track on homes that might be coming to market soon.
Prices continue to rise...the average sales price on Single Family Residential properties in the market in January was $301,874...up more than 10% from one year ago.
Interest rates remain low...but with an improving economy, experts are indicating that they could be on the rise as soon as this Summer.
Whether you are thinking of selling your home, looking to buy a new place, or both, LIVE Urban agents are ready to help you make strategic decisions to make sure that you make the most of this Low Inventory situation! Don't hesitate to give us a call at303-455-5483.
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