It’s December 2020 and nothing is normal not even in the Denver Housing Market.
“How’s the Denver real estate market?” you ask.
I can’t wait to tell you.
This is the first time in my 21 years that we went through an election year… during October and November… without pause. Buyers and sellers just wanted to move.
This is the perfect recipe for increasing prices and since interest rates remain low and are expected to for most of 2021 I expect that next year will be very similar to the last half of 2020. Which was off the chart!
Denver housing market highlights:
- Record low inventory – 3,415 homes on the market. The average is 14,448 and the record high was in 2006 with 27,530 homes for sale.
- Mortgage rates hit an all-time low at 2.72%
- Builder confidence hit a record high for the third month in a row.
- A record number of buyers applying for a mortgage.
If you’re a buyer looking for a deal…it’s downtown. Confidence is high in the market everywhere in our metro Denver area except for downtown. The prices haven’t dropped but they haven’t gone up. Prices will go up as soon as the city opens back up after covid.
If you have been thinking of selling let’s talk and figure out what’s the best timing for you. I think our normal spring market is going to start in January.
2021 is going to be another non-normal year in the Denver housing market so get ready.
Let me know how I can help you, message me or give me a call.