The big news in November is the amount of active homes for sale... There are just 39 homes listed for sale right now compared to 58 at this time in October! That means buyers will have a hard time finding a home they like, and sellers will continue to have the upper hand when pricing their homes. Thirty seven homes sold in November which was similar to the 40 that sold in October.
The homes that are selling quickly continue to be those that are clean, well-staged, and well photographed. We continue to see homes that are presented for sale with littleeffort, and these sellers are finding that despite the competitive market, buyers are still discriminating and want a home they can move into quickly.
Thehome on the left continues to sit on the market, while the home on the right sold in 2 days. Both are similarly priced.
Very notable also is the lack of rental inventory in Wheat Ridge. Rental prices have skyrocketed, and this is leaving many people searching for an affordable place to call home. I do encourage anyone who is renting to consider the option of buying if it is at all possible. Because interest rates are still very low, it is possible to buy a small home for less than many landlords are charging for rent. Talking with a mortgage lender is a great investment of thirty minutes of your time!
For a market analysis on your Wheat Ridge home, please contact Joy Opp,joy@liveurbandenver.com. And please let me know if you have any questions at all!
Joy Opp, 303-868-8769
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