For Denver the Days On Market range from 70-120 days. The prices continue to be unchanged. Although you will notice that listing price can change from the sold price. In Denver concessions are being given to buyers in this competitive market, which is good for buyers right now to buy homes. It can be advantagous to both the buyer and seller in the this market. Whether upsizing or downsizing it can be good for buyers right now because they will be able to negotiate on price and ask for down payment assistance or closing cost to be paid by sellers if needed. It is still a Buyers Market in the Denver Metro Area with the large inventory to choose from. We are seeing alot of relocations, investors, upsizing and downsizing occurring in Denver right now.
April 2008 Forbes Magazine named Denver among its “10 Best Cities for Home Sellers”.
While other parts of the country struggle the Denver housing market seems to be rebounding. Factors that point to a possible metro Denver real estate market rebound:
The number of homes on the market has decreased to a seven months of supply, below the eight-month mark signaling a buyer’s market, a seller’s market is defined as standing inventory with six moth or less supply – great news!
Most builders have drastically slowed down production to get rid of their standing investor in order to survive. This is good news for sellers because their competition is dwindling.
If you have been contemplating purchasing a home now is the time, don’t wait until it is a sellers market again!
