Denver Real Estate Outlook
The Denver real estate outlook continues to be positive, with home buyer demand remaining strong and sellers taking advantage of built-up home equity. If you are considering buying or selling, these statistics from the Denver Metro Association of Realtors April 2022 Report may provide valuable information. Realtor Sam Wilson shares the current state of the Denver real estate market each month in his real estate blog.
What is Denver’s Real Estate Outlook?
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Watch More Videos About the Denver Real Estate Market on Sam’s YouTube Channel
April 2022 Denver Metro Market Summary: Denver New Home Listings
New listings in the Denver metro area for April 2022 versus March 2022 increased by 14.25%. This is a significant increase that confirms home sellers are on the move. The good news for homebuyers is that there is more choice because of more homes available for sale.
Denver Median Home Closed Price
The median Denver home closed price rose by 3.81% from March to April 2022. The median price represents the middle sales price of all homes sold during the month. Homebuyers paid $624,950 in April versus $602,000 in March.
The median home sales price one year ago was $525,000. The jump of nearly $100,000 represents an increase of 19.04% year over year. These numbers confirm that the Denver real estate outlook remains strong. If you are in a good position and ready to buy, waiting to buy will likely result in paying more for a home.
Homes Are Selling at a Quick Pace (Average Days On the Market)
The pace at which single-family homes, townhomes, and condos are selling has quickened. The average days for a home to be on the market before selling for single-family homes decreased to 9 in April from 11 days in March, an 18% decrease. Days on the market for attached homes decreased by 33% from 12 to 8 days.
This means that buyers must do their homework to know the area they want to buy, be available to tour homes, and have an agent agreement with a realtor who can write an offer. Historically most homes become available for sale on Thursdays.
This timing results in multiple offers over the weekend and fast negotiations. If you are a potential home buyer who has NOT prequalified for a loan or who is unable to make a cash offer, you will lose out to other buyers who are more prepared. Learn how to become a power buyer to get the home you want.
Because of buyer demand for homes, sellers accept the offer at the highest price that is most likely to close over offers that have contingencies or other potential complications. The current Denver real estate outlook shows no indication that home prices will decrease or competition will significantly lessen.
10 Tips for Homebuyers
If you want to buy a home in the Denver metro area and aren’t sure what it takes to be in the best position to have your offer accepted, read our real estate blog post, 10 Tips to Avoid Homebuyers Remorse. You can learn the steps to make your home buying experience run smoothly, considering the Denver real estate outlook.
Is Uncertainty Holding You Back?
Watching the news can make you feel anxious about the state of the world. Uncertainty can be worrisome on all fronts, including inflation, interest rates, and gas and food prices.
Suppose you were employed and trying to buy a home in 1980. In that case, you may remember that this was another period of high inflation when the Federal Reserve Bank began raising interest rates to decrease inflation.
Looking back in history, you will see that there is good news. Inflationary periods don’t last forever.
Tips to Manage Through Uncertain Times
What can you do if you are a home seller or a home buyer interested in making a move now?
- If you are a buyer, take steps to become prequalified and ready to buy
- If you are a seller in the Denver metro area, request our FREE home selling kit for all of the information you need to prepare your home for sale
- Be realistic about buying and selling, taking into account what you can realistically afford given the current market conditions
- Hire a realtor who will be honest with you about pricing your home or the target price of a home you can afford
- Rely more on facts, market statistics, and rational thinking instead of emotions that can cause home buyers or sellers to make poor decisions
Is It Time to Buy or Sell a Home?
Are you thinking about buying a home in Lakewood, Colorado, or the Denver Metro Area? Get expert real estate advice when hunting for homes for sale in Lakewood, CO, Jefferson County, and the Denver metro area. Work with a buyer’s agent on the Sam Wilson Home Selling Team. If you are thinking of buying or selling a home, we make you a priority and share our expertise to make the home buying or selling process as stress-free as possible.
The Sam Wilson Home Selling Team specializes in homes in the Denver Metro area, including Arvada, Aspen Park, Aurora, Brighton, Broomfield, Centennial, Conifer, Denver, Edgewater, Evergreen, Genesee, Golden, Highlands Ranch, Idledale, Indian Hills, Ken Caryl, Kittredge, Lakeside, Lakewood, Littleton, Morrison, Mountain View, Parker, West Pleasant View, Westminster, and Wheat Ridge.
Contact Sam Wilson today by phone or text at 303-770-1250 or fill out the Contact Form on this website.
© 2022 Sam Wilson. All Rights Reserved. Articles by Pamela D Wilson