We are experiencing Spring snow storms here in the Denver metro area, which is certainly nothing new. And they are doing nothing to dampen the Spring demand for real estate. Also nothing new!
Over the last seven days, 1295 new listings were recorded on REColorado, the MLS for the Denver area. That number is still exceeded by the number of homes that went under contract in the same 7-day time frame, 1830, as well as the number that sold, 1458. So for now, clamoring demand continues to outpace supply at a steady clip. A small beacon of light may be the 703 homes that took a price cut in the past week. In this market, sellers know pretty quickly whether their asking price is too high, often in a matter of only a couple of days. If a broker is successful is securing multiple showings, but the incoming offers are few, more often than not a too-high asking price is the culprit.
I know you’ve heard it before, likely over and over again, but now is a fantastic time to sell. Particularly if you are of the mindset that this hot run simply cannot last forever. And especially for those with significant equity, or if you are looking to downsize. Call me today at 720-788-9303 to set up time to get together and determine the best plan and price for you!
Also, check out this resource to obtain a quick estimate of what your current home may sell for: