The Current State of Denver Real Estate: October 12, 2022
If you are looking for a quick snap shot of the housing numbers, look at the bottom of this page for a link to the September 2022 housing stats provide by SMDRA. If you want to know what’s really going on in the Denver Housing Market today, keep reading!
On April 1, 2022, the Denver Housing Market changed overnight. It went from being a robust seller’s market to a neutral playing field. In June it became a Buyer’s market. Interest rates went up, homes prices went down and Buyers had the upper hand when negotiating prices, inspection repairs and even SELLER CONCESSIONS! Sellers were once again helping Buyers with their closing costs, helping buy down interest rates, or whatever they could do to make the sale happen. Since June, home prices have dropped nearly 8%. Denver is currently rated 6th out of ten in overall home price declines throughout the United States. The 10 Cities Where Home Prices are Dropping
If you are in the market for a new home, this is definitely the time to invest. Rates, although higher than the 3-4% we were used to, are still historically low. If you were defeated a year or so ago and constantly out bid, now is the time to get back in the market. Jump in, find the house of your dreams and let one of us from The Tucker Team begin the negotiation process. Make the market work for you instead of the other way around. As with most things, timing is everything. Don’t miss this opportunity. The best way to insure against inflation is to own hard assets. Your home is one of the best places to invest your time and money!
If you are a Seller, don’t feel too bad. Year over year, prices are still up (See the Chart below). You may have missed the peak, but compared to three or four years ago, your home is still one of the best investments you could have made. There are still buyers out there too, so make sure you pick a Realtor who knows how to market your home in this competitive arena. Is your agent offering to have your home professionally cleaned, staged, de-cluttered, professionally photographed along with 3D tours and floor plans? If not, contact one of us at The Tucker Team. We can still make it happen for you. We’ll take the time, effort and expense to show your home in the best light possible, so that the buyer’s first impression, is the best impression!
Click on this Link for the latest housing stats courtesy of SMDRA. September 2022 Denver Housing Trends