Fall is quickly approaching and the Denver real estate market is showing no signs of slowing down!
For the Denver real estate market in August the average sold price for a house was down slightly from July. But home prices are still on the increase as compared to this time last year. Also the lack of home inventory contributes to the high prices for the Denver real estate market.
For the Denver real estate market supply continues to be an issue with fewer people listing their homes. Because of this phenomena along with the continued influx of people moving to Colorado housing prices aren’t likely to drop significantly in the near future. Supply and demand continue to inflate house prices in the Denver market. It looks like that won’t change anytime soon based on July and August activity.
In addition, in the Denver real estate market the average days on market for a house increased to 25 days in August. This increase does benefit you if you are looking to buy a house in this market. The additional days gives buyers better opportunities to look for a house and make an offer. However, with limited inventory of houses available in Denver time is still critical in being successful in your home purchase. You still have to move quickly in making a decision/offer on that perfect house!
If you are in the market to buy or sell a home you will need help. Buyer’s Best Choice can provide you with sound advice and the experience it takes in this fast paced real estate market. Look to Marilyn Van Steenberg and her dedicated team for the professionalism and knowledge needed to be successful in your journey of the sale of your home or next home purchase! Please contact Buyer’s Best Choice for all your real estate needs.