So, Kelsea…how’s the Denver real estate market anyway?!?! This is the most asked question I get, and I LOVE talking about!
Today, we are diving into how the Denver Real Estate Market is shaping up this spring!
Denver was recently ranked the most competitive real estate market in the nation by Forbes. With such a high level of demand and not enough supply, we are still experiencing an aggressive seller’s market. Denver currently has about 1.92 months of active inventory. What does that even mean?! A balanced real estate market has around 6 months of inventory.
With Denver being such a wonderful place to call home, our population continues to grow as us millennials put down some long-term roots in this great city!
This past February we did see a significant uptick in inventory, 2.3% more to be exact. As we enter into the spring selling season, buyers need to prepare for multiple offers on a property and an increase in competition. The housing demand is also very dependent on your price point. In the luxury market (anything over 1+ million) buyers do have the upper hand!
So, if you’re ready to buy your dreamy downtown condo or a Wash Park beauty, now is your time!!! In the more popular price points, $300K-$500K be ready to move quickly when you find your perfect home, as you will have some competitors on your tail.
With March madness both on the courts and in the streets, we can expect to see a lower number of days on the market, a higher sales price compared to the list price, and lots of competition. Don’t be sacred off, instead, pull those rain boots up and let’s get to work!