The Denver Housing Market in April 2021 is still on fire.
Yes! We DO have inventory!
We are going to sell more houses in 2021 than we did in 2020 if we keep up this pace. The houses are selling so fast! It looks like we don’t have inventory because of the number of houses currently on the market but…
Just like last month, we are selling more houses than those that come on the market, so our active inventory keeps dwindling. Also like last month, if we didn’t have the properties coming to the market we would be sold out in about 2 weeks…so….YES, we do have inventory it just isn’t keeping up with the demand from the buyers.
Buyers are quick
They have been watching the Denver Housing market and they know what they want. They know there is no time to be wishy-washy. Buyers are waiving inspections, putting in appraisal gaps (paying over appraised values) and there are a few other tricks to winning offers that I cannot disclose unless you are my buyer!
Buyers are still coming from all over the country and with COVID changing the requirements to actually be in an office, we will continue the influx we started before COVID came. We are still seeing about a 3 to 1 ratio of people coming in, to people leaving Colorado. Denver has gained the most workers from New York City, San Francisco Bay Area, and Chicago.
Sellers be prepared
Even if your house doesn’t sell in the first weekend, you still might receive multiple offers the next week. Yes, it happened to my sellers in April. We knew we were competing against the builder and that the last year has been a roller coaster in that particular neighborhood. Don’t assume everything is flying off the market, the property still needs to be priced right, placed on every marketing platform available, and you need someone to navigate and negotiate through the process. It is more complicated than I have seen in my 22 years. But – I’ve got you! I have the key to keep the process exciting and without stress.
Before you take a look at the stats compared to last year, remember we were not to supposed to be showing houses to clients. We had to get them under contract by video and then the client could see them in person. Thousands of sellers took their houses off the market. You can look at my April market update 2020 here that has more details about what was happening last year.
Here are the stats for the Denver housing market April 2021
Why is the Denver housing market so hot?
The housing market all over the country is hot because we have more buyers than we do sellers and this is because the interest rates are so low, and we live in one of the most outstanding climates and dynamic cities in the country. We’ve been saying for the past year but with interest rates this low, this is literally the most affordable time to purchase a house in U.S. history.
When is the Denver housing market going to crash?
My question back to you, is why does it have to crash? Do you mean when is it going to slow down? It is going to take a world catastrophe I would think, but we just had a world pandemic and that lit it on fire. The builders slowed down building after the last crash and we haven’t caught up to the demand. We have builders now saying they are stopping building until the prices of materials come down. Buyers are not slowing down. I don’t think we will see much change in the Denver Housing Market in 2021.
If you know someone thinking of buying or selling in the Denver Metro Area or anywhere in the country, please contact me so I can help.
Thinking of making a move?
I can help.