SLIGHT BALANCING IN THE DENVER REAL ESTATE MARKET
The teeter-totter of our supply and demand is slightly less lopsided.
In July buyers experienced a little less competition as sellers’
listings moved a little slower (source: DMAR’s monthly report):
– July ended with 30% more detached and attached properties on the
market than June.
– There were 12% less closings last month, a signal of more inventory
and fewer offers from buyers.
– Our average sales price slightly decreased.
Sellers, the blazing hot market has only cooled to a “very hot”
market. Your chance to receive an excellent offer is higher than
before COVID. With the right pricing and negotiation strategy, your
goals can be met.
Buyers, the odds of purchasing are a little more in your favor. With
the school season starting, there’s likely to be even less
competition. Get back to the search and see how many more homes could
be a fit for your needs (source Megan Aller, First American Title).
Sources: Denver Metro Realtor Association and Megan Aller with First
American Title
Please reach out with any real estate questions:
720-738-1080,
michelle.oddo@goluminate.com
#oddogroup
