Ending in November the overall Denver area inventory continues to drop.
The decrease in inventory in part is seasonal. This time of year it is very normal to have homeowners take their homes off the market or wait until spring. For buyers, it’s frustrating to have less inventory. Most buyers would prefer to have more to choose from.
The reality is if you are an owner wanting to sell, now would be a good time to put your home on the market. With the lessening of inventory it is easier to stand out.
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Do you feel this happens every year as people who do not really need to sell are moving to the sidelines. Be interesting to see what the lower rates will do.
The more suburban the neighborhood the stronger the trend to wait till Spring. My city business tends to do much better this time of year.
Eric- New Orleans Condos and Loftss last blog post..Warehouse District Condos, Market Update for December 2008. Buyers Market?
The declining inventory that is a sure sign that the Denver market is on it’s way toward recovery. Many times I have sellers tell me that they don’t want to have their home on the market during the holidays. After explaining to them that with fewer homes on the market at this time of year they are actually in a better position, The Law of Supply and Demand. Sure the home has some additional clutter due to the holidays but guess what, you can just think of it as “Happy Clutter”. Show prospective buyers that your home is a happy festive home and they just may picture themselves in it for next years holiday season and reward you with a contract.
Eric ~ We sell houses all year long, but the most activity happens in the spring. Of course our summers aren’t as warm as yours so I can see why your buyers might stay inside to keep cool.
Mack ~ I think Christmas Happy Clutter is a good name for it. I find buyers looking this time of year are very serious and should be taken as such. December is usually a very good sales month for me. Hope you experience the same!