So, How’s the Metro Denver real estate market? The word of the day is INVENTORY. If you watched the last market update, I told you we would be keeping up on supply and demand. In that update, inventory was on the rise, but demand was keeping pace. That is not the case today. Inventory went up 800 units from mid-February to mid-March, pending homes only increased by half that. Remember the adage: when supply increases, prices decrease.
However, we are not finding large price adjustments downward for homes in move-in condition. We continue to see seller concessions that would change the sellers net proceeds. These concessions are commonly used for buying the interest rate down or making repairs to the home. Either way, buyers are finding a very attractive market at this time. Savvy sellers, are putting their homes in the best position for buyers by offering attractive price and terms packages.
Please reach out if you are considering entering the market in 2025. I can advise you on what your best options are, buying or selling. Thanks for watching! I’ll be back next month with another update.