It’s finally here, well, almost here, hello fall!!! Not only do the temps get cooler, but so does the Denver real estate market. So if you’ve been beat-up with spring and summer frenzy, now is your time!
Historically, from fall to early winter, the Denver market sees some cooling in inventory, offers, and purchase price. We see the season lull with kids going back to school, colder weather, and holidays mixed in.
While we tend to see fewer homes hit the market during this time of year, you also see less competition for those homes. I would rather see fewer homes and have less competition than wait for spring with more properties and more buyers to work against. Who else is with me?!?
We also see homes that hit the market in late summer that are overpriced are now sitting for longer than a weekend. In addition to sitting for a bit longer, we also start to see those price reductions coming through. So much happiness when I see price reductions!
This past spring/summer was a busy one. We saw offers go $100K+ over asking, inspections waived, unlimited appraisal gaps, and everything in between. However, during fall, while offers still roll in quickly, there is an opportunity where you may not have to do all those contract extras. Especially if you find a home that’s a bit overpriced and has been sitting, you might even be able to come in at asking or under in some cases.
Don’t give up hope just yet, and keep your living situation flexible because fall is the house jam for all my buyers out there!
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