Your Summer Market Update
Home buying is a numbers game, and I have got you!
@milehimodern just released our July stats. Here’s what you need to know:
homes sold // ↓ 24.9%
active inventory // ↓ 27.3%
average home price // ↓ 0.34%
New listings (both detached and attached) are down over 27% YOY. With demand still heavy, we are still seeing an active Denver market. With buyers being more thoughtful in their buying process, homes selling quickly and with multiple offers are perfect. And we are talking PERFECT. From curb appeal to interior upgrades. Buyers want things to look clean and move-in ready.
With the high construction cost and interest rates, buyers are looking for their unicorns. So sellers, if you plan to list your home, it must be impeccable. Finish up all those lingering projects and make your home shine! It will pay off!
Buyers, NOW IS YOUR TIME. Yes, interest rates are high, but it will be far more enjoyable to do a refi down the road than to compete when rates come down, and the buyers swarm the market!
Looking for a seasoned Realtor to guide you through the homebuying or home-selling process? Send me a DM or drop a comment below to connect.