Price Reduced Homes for Sale in Denver: Will This Trend Last?
Price-reduced homes for sale in Denver are a current real estate trend that may or may not last. The average home price dropped by -4.5% to $657,284 between July and August of 2022.
Watch Realtor Sam Wilson’s monthly market report video below. Then get your copy of the Denver Metro Association of Realtors Report for August 2022 with statistics and real estate trends for the Denver Metro Area.
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Denver Real Estate: Why The Sky Isn’t Falling
While this average closed sales price is still +6.7% over one year ago, the fourth quarter of 2022 may be your window of opportunity if it’s time to search for a home.
If you are currently in the market for a home, contact Sam Wilson by phone or text at 303-770-1250 to learn how to receive a daily list of price-reduced homes.
And check below for other special programs available for home buyers and sellers.
Homebuyers Can Take Advantage of End-of-Year Home Sale Trends
The year’s first half is typically the frenzied home buying and selling season in real estate. However, come July and August, home sales begin to slow.
This means there is less competition with other home buyers. Home sellers may be more motivated, flexible, and willing to make seller concessions or reduce the price of their home in the Denver metro area.
What Are Real Estate Seller Concessions?
If you are buying a home, a seller concession is an amount a home seller offers to a home buyer to reduce closing costs. Examples include:
- Covering the cost of new appliances
- Repairs to the home like a new roof or exterior paint
- A home inspection or appraisal fee
- Property taxes
Keep in mind that a seller concession is not cash that a home buyer receives. A concession decreases closing costs but will raise the amount of your home loan by a corresponding amount.
So while a seller concession can make it easier to buy a home because you’ll need less cash, it can cost more money in the long run by adding to the mortgage amount.
Confused About the Details of Buying or Selling a Home?
Realtors on The Sam Wilson Home Selling Team have the experience and knowledge to walk you through the pros and cons of real estate concessions, making offers for a reduced-price home, and the entire home buying or selling process.
Learn what our clients have to say about our expertise.
Denver Real Estate Trends: New Home Listings
New listings in August 2022 were 6939, which is +93.7% versus one year ago. However, as seasonality predicts, new listings in August versus July decreased by 5.7%.
August is typically a back-to-school time when families hope to settle in until school is out the following spring. But this doesn’t mean that buying and selling in the real estate market come to a screeching halt.
Home buyers and sellers wishing to avoid buying and selling frenzy of the first half of the year remain in the market. This means that whether you are buying or selling, Q3 and Q4 offer a more relaxed pace.
Special Programs Offered by the Sam Wilson Home Selling Team
If you are a home buyer interested in a list of price-reduced homes for sale in Denver, contact Sam or a realtor on his team to get the details about these programs.
Other special programs available—at least for now include:
- Buy before you sell
- Receive a cash offer on your home
- Home repair programs that delay payment until you sell
- Worry free listing
- Home sale guarantee
- FREE home value report that includes a calculation of how much money you can make on your home
- FREE home selling kit
It’s a Good Time for Buyers and Sellers
Are you considering buying a home in Lakewood, Colorado, or the Denver Metro Area? Get expert real estate advice when searching for homes in the Denver metro area.
Work with a seller or 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 years of 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 completing an online form or calling or texting 303-770-1250.
© 2022 Sam Wilson. All Rights Reserved. Articles by Pamela D Wilson