Denver Real Estate News
In this month’s Denver real estate news blog the message is “sigh.” Is the extreme market madness over? The answer is yes.
Pent-up demand due to the pandemic has cooled significantly offering relief for home buyers and disappointment for home sellers who hoped that the market would remain red hot with record-breaking sale prices throughout the United States.
According to the Denver Metro Association of Realtors® July market trends report, active home listings at the end of July 2021 were 4,045. This is an increase over June 2021 of +29.92% when listings were 3,122. That means about 30% more homes were available for sale at the end of July versus the prior month. Average days listed in MLS (multiple listing service) equals nine.
Denver Real Estate Market News
Buyers are relieved not to find themselves in the highly competitive situations of the past where properties sold in the first weekend with 20 to 30 or more offers by competitive home buyers. While buyers should still not wait to make an offer on their dream home in the Denver metro, competition today and in the foreseeable future may be only one or two buyers.
Home sellers are disappointed not to see escalating sale prices and lines out their front door with one showing after another. Those days are over. Rather than homes selling in the first weekend, Denver’s housing market is moving upward with trends pointing to a potential of two to three weeks on the market before receiving offers.
Denver Real Estate Market Predictions for 2022
What will the Denver real estate market do for the remainder of 2021 and into 2022? News about the Denver real estate market confirms home sales returning to more of a normal pace.
Home prices are expected to experience continued price appreciation with fewer over-list price offers. Low interest rates continue to make home-buying favorable. However, as prices continue to increase and inflation becoming more of a factor price affordability may become more of a concern.
With continued inventory shortages, home prices are expected to continue to rise, although not as sharply as in the past, into the foreseeable future, and into 2022. Denver home prices reached a median of $540,000 in July 2021. The Denver market has been and remains a wise strategy for real estate investing.
What Can Home Sellers Expect?
Denver real estate news confirms that the market remains a seller’s market with single-family homes in high demand. Recommendations for home sellers are to price at competitive levels and not to expect as many multiple offers or offers over list price as in the past.
Home sellers will face more competition and may have to be more flexible about buyer requests. Home inspection and appraisal waivers may soon be a thing of the past.
If you’ve waited to make home improvements and are ready to sell today or if you are thinking about selling in the next twelve months begin now making a plan. Realtors on the Sam Wilson Home Selling Team can offer suggestions about home improvements that are nice to have versus those that will add to the value of your home.
If you are in the planning stages and want to see what homes in your area are selling for, ask for a home price valuation to receive a report in the mail or by email complete with a video. Making a plan for selling your home is the best way to maximize your home equity so that you can consider where to move next.
We offer FREE reports for home sellers. Request our FREE report 12 Tips for Selling Your Home fast and for top dollar in a market where list prices are cooling.
What Can Home Buyers Expect?
Homebuyers can capitalize on record low interest rates and more housing inventory and choices. Request home inspections and appraisals instead of waiving these important safeguards.
If you get outbid by other buyers willing to waive inspections and appraisal waivers—let the house go and move on to the next. One example of this is a recent buyer of a property in a high-demand price range. We negotiated the list price and still received $5,000 back in cash for inspection items and the appraisal was not waived during the offer period.
If you are a home buyer who is interested in purchasing your next home before you put your current home on the market, learn more about our special program, how to buy before you sell.
More Denver real estate news and trends are available in our Real Estate Blog where we report each month on trends for Denver area real estate. You’ll also find other helpful articles on topics requested by our real estate clients.
If You Are Thinking of Buying or Selling – We’re Ready to Work for You
Are you thinking about buying or selling a home in Lakewood, CO, or the Denver metro area? Receive expert real estate advice. Work with a buyer’s agent on the Sam Wilson Home Selling Team who makes you a priority. Our expertise makes the home buying or selling process as stress-free as possible.
The Sam Wilson Home Selling Team specializes in homes in Lakewood CO, and Jefferson County Colorado, including Arvada, Aspen Park, Conifer, Edgewater, Evergreen, Genesee, Golden, Idledale, Indian Hills, Ken Caryl, Kittredge, Lakeside, Lakewood, Littleton, Morrison, Mountain View, West Pleasant View, and Wheat Ridge.
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