AND THE BEAT GOES ON….
“Unwavering” really does sum up our market in March. Buying and selling activity is as intense as ever with our low inventory and high demand. Some of the highlights (source: DMAR’s monthly report):
- Home appreciated year-over-year by 15%. Last March, the average
property cost $511,511. Currently, it is $589,587.
- Almost all sellers received at or above their asking price. The
close-price-to-list-price ratio is 103%.
Such an excellent point:
“As interest rates start to trickle up, prices continue to rise, and inventory continues to shrink, other consistent questions become whether the market is in a bubble and if now is a good time to buy? If you use supply and demand as a metric for the “bubble” question, it would be difficult to think that we are in one.” – Andrew Abrams with DMAR Market Trends Committee
Sellers, this could not be a better time to list. You have the power to negotiate the timing so you can smoothly move into your next home (30, 60, even 90 days out). List after you’re under contract on your next home.
Buyers, it takes patience and determination to succeed in this market. With an expert strategy, you can quickly find properties and make compelling offers that appeal to sellers.
Please reach out with any real estate questions:
Sources: Denver Metro Realtor Association and Megan Aller with First