The Denver Real Estate market is moving! The number of properties that come on the market is almost equal to what is going under contract.
Did You Know
Did you know that approximately 34.3 million homes nationwide have mortgages under a 3.99% interest rate? That is about 65% of all U.S. homes with a 1st lien. Only 4% of homeowners have a 6% and above interest rate. (Data from Black Night Data firm.) Sellers do not want to pay a higher mortgage interest rate if they don’t have to.
People still need to move, the real estate market does not stop. People grow up, get married, have babies, divorce, and die and some people just want change – and this is who is moving right now.
They may refinance when the rates change, or they might not, depending on their personal long-term goals.
Denver Real Estate Market Statistics
If you are thinking of selling our inventory is low. You won’t have much competition.
Year to date the inventory is lower than 2020 and 2019 (pre-pandemic). New listings are lower. The days on the market are similar.
We had 4,620 properties on the market at the beginning of May. That is only up 2.3% from last month.
Here are the numbers:
Our average closed price is over $682,000 which is up from last month and down slightly from last year.
The average days on the market are 29, down from March and up from last year.
Denver Luxury Real Estate
The Denver Luxury Real Estate Market is wild! Some places are flying off the market and some are not. Houses are selling faster than condos, and Cherry Creek condos are selling faster downtown. This is a perfect example of each neighborhood, the style of the house, and the price range are different.
If you want to know what is happening in your neighborhood or the neighborhood that you want to live in…message me. I want to help you.
Thinking of making a move?
I can help.
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