Houses for Sale Research: Denver Colorado Market Update
Looking to buy or sell a home in the Denver metro area? This month’s real estate market report features houses for sale research you can trust based on the October 2021 Denver Metro Association of Realtors report that you can read in its entirety.
Sam Wilson and his knowledgeable team of realtors share no-nonsense one-of-a-kind real estate advice and tips available in the real estate blog on this website. Learn about unique programs for homebuyers and home sellers on the Sell My Home Section of this website with the associated drop-down pages about worry-free home listings, cash offers, home for sale guarantee, probate real estate sales, and more.
Houses for Sale Research
Four indicators confirm that new listings month to month comparing September 2021 to August 2021 are flat. Prices remain stable without the significant run-up that occurred earlier this year.
Housing inventory is up 10.8% indicating that the mad rush to buy is slowing. This is confirmed by an 18% increase in days that homes are listed in the MLS before sellers receive an offer they accept.
- New listings are flat Sept 6125 vs August 6110 and increase of + 0.25%
- Active all residential listings at the end of September was 3971 up from August at 3582, a +10.86% increase
- The average closed price of all residential listings in comparison Sept $618,293 vs August $613,546 – represents a slight increase of +0.77%
- Days in MLS is 13 an increase of 2 days versus August which is an +18.18% increase
Denver Real Estate Market Facts From eXp Realtor Sam Wilson
Housing Prices are Flattening
September 2021 is all about the flattening of prices. The last price hike was from March to April 2021.
Housing prices year over year will continue to show increases of 12-15%. Sales during the first quarter of 2022 will indicate if this trend will continue or smooth out.
Available Housing Inventory Is Good News for Home Buyers
The number of houses available to meet buyer demand is improving. However, supply will continue to exceed demand until builders can catch up—which may take years in the Denver Metro area and other parts of the United States.
What does a low housing supply mean for homebuyers? Working with a knowledgeable realtor who offers houses for sale research can give you the information you need to make an offer that will be accepted. Sam Wilson and his team are experts in the Denver local market area with more than twenty years of experience.
Bidding wars, for the most part, are over. The greatest risk for homebuyers remains a possible hike in interest rates that may increase monthly mortgage payments. The fourth quarter of 2021 may be the last chance for buyers to grab a mortgage with interest rates before an increase.
Rising Interest Rates in 2022 May Raise Monthly Mortgage Payments
According to a CNBC report from September 22, 2021, the Federal Reserve indicated that rate hikes could be coming sooner than expected. Inflation continues to be a concern with food and energy prices increasing month to month. If you live in Colorado, it’s likely you have seen or will see monthly increases in electricity rates versus last year.
Most buyers move from a previous home they owned and sold. Interest remains among renters to buy their next home; however, this may be more challenging due to higher competition in the lower price ranges considered to be $300,000 to 499,000 in the Denver area.
First-time home buyers are more likely willing to purchase a home with future plans to update or renovate the home. Knowledgeable realtors on the Sam Wilison Home Selling Team can provide houses for sale research to indicate if the home you are considering is likely to appreciate in value based on neighborhood and other trends.
What Do Real Estate Trends Mean for Denver Area Home Sellers?
Sellers should understand that prices will not continue to experience huge leaps month to month even though they remain the highest in history. Owners have more equity that was gained faster than ever. For this reason, many home sellers become cash buyers of their next home. Learn more about tips for getting your house ready to sell in our real estate blog post.
Home sellers should look at all of their options including off-market no-hassle cash offers as well as traditional listing with exposure to all buyers and top dollar. The Sam Wilson Home Selling Team offers home sellers the option of receiving a cash offer or a traditional listing.
Call Sam Wilson today for a transparent, worry-free home listing and no-obligation home evaluation and price opinion at 303-770-1250.
Placing your home on the market during the fall and winter months offers an advantage for sellers because of the steady interest of homebuyers in Denver. Less competition exists during the holiday season which means that finding a replacement home will be less stressful if you don’t mind moving during this time of year.
Real Estate Remains a Solid Investment
The Denver market is expected to remain a solid opportunity for buy and hold investors with a wide range of properties for sale from condos, single-family homes, multi-generational homes, rental and vacation properties. Summer and winter in Colorado bring tourists from all over the United States who may choose Colorado over their current home state.
Life events are often a major factor in the reasons that homeowners choose to sell and buy a new home or downsize to a smaller home or rental property. The pandemic has resulted in significant numbers of employees now working remotely at home. Working from home makes the need greater to upsize to a home with an extra bedroom that can be converted to an office.
Cash Buyers Continue to Be a Competitive Threat Versus Traditional Mortgage Buyers
As a result of home equity increases and loans from family members, many younger home buyers are purchasing for cash. Cash buyers can be a frustration for homebuyers who need to apply for and be approved for a mortgage. Using a knowledgeable realtor to compete houses for sale research can help you identify neighborhoods where you would like to live and be prepared to compete based on days on the market of homes in the area.
Additionally, if you are first-time home buyer planning to purchase a home in the next year, take all of the steps to shore up your credit rating and reduce debt levels. Avoid purchasing a new car or large ticket items in the year prior to applying for a mortgage and purchasing a home.
Job stability is also an important component of being approved for a mortgage. Speak to a mortgage lender to learn more about actions you can take to be approved and ready to make a solid offer on the home of your dreams.
If you qualify for a mortgage and are interested in learning how to become a cash buyer or cash seller, contact Sam Wilson to learn about available programs at 303-770-1250.
If You Are Thinking of Buying or Selling – Contact Us Today
Are you thinking about buying or selling a home in the Denver metro area? Get expert real estate advice when house hunting for homes for sale or preparing your home for sale. Work with a buyer’s agent or a seller’s agent on the Sam Wilson Home Selling Team. 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 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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