Anyone care to give their 2cents about the real estate trends this year in Denver/Front Range?The opinions expressed here are those of the individual and not those of StreetAdvisor. Report
Anthony Rael PRO 2yrs+
Low inventory continues to plague the entire Denver area. This is frustrating buyers who have to compete against a handful of offers on almost every new property that come on the market and is driving prices upwards (good for sellers) - in some cases as much as $7,000 - $10,000 over the listing price. The danger with this is the property will still have to appraise. While it's nice to see appreciation across the board, I'm looking forward to seeing more listings come online so things will balance out a little more.
Laura Davidson 2yrs+
The rental market took a more significant plunge than in other winters. The sales market decreased an average amount for this time of year. Historically, listings and activity decrease in winter. This summer saw some large price increases which have somewhat normalized, but our market continues to be a sellers market. Despite the rental market hit and the sellers market, investors are still eyeing Denver. Expected rents still typically exceed monthly mortgage payments--not true in many California markets.
I'm not a realtor, but we put our house on the market a couple of weeks ago. Our realtor told us the inventory is really low right now across the metro area. My husband and I were truly shocked at how many people came to see our home, especially since we live really far out. We had a few low ball offers which we passed on, then got an offer for our asking price.