Unless you’ve been paying close attention, you probably didn’t realize that the real estate market has been making some dramatic moves recently. The most startling statistic is the inventory. Right now, there are approximately 40% fewer listings of available properties in the Denver area than there were a year ago.
That means potential buyers have far fewer properties to choose from. When that happens, we expect to see multiple offers and short listing periods, and that is exactly what is happening. It’s certainly not a sellers’ market, but it does feel like a return to a “normal” market is at hand.
I should say multiple offers are not being received on every listing, and sellers should not get all excited and start over-pricing their properties. In any market, that’s a recipe for heartache and pain.
If you’ve been sitting it out, waiting for the market to improve, this is what you’ve been waiting for. If you’re curious what your property might be worth, let’s take a look. You can use the CMA request form, or just give me a call at 720-258-6211. If you want to discuss your options, we’ll need to know what they are.