The news is out, the real estate market has changed. Why? There are a variety of reasons:
- Housing Inventory is low, very low.
- Interest rates are low, very low.
- Buyers are confident, they want to buy.
Last month in April the Denver Real Estate sales exceeded the amount of properties that were put on the market by 71 units.
The average sales price has increased $14,690 from March to $298,712. That is a $26,800 increase from a year ago.
Metro Denver has become a HOT seller’s market. If you are a seller this is good news.
If you are a buyer, it’s not going to get any better. Prices and eventually interest rates are going to rise. When prices and/or interest rates increase, home affordability is lessened. This means you get less of a house, while paying more.
There is no better time to buy than now. Really.
Each month we are seeing the “Days on Market” average drop. Currently it is less than 3 months.