The Denver Metro Area inventory of homes for sale has hit another low this month. We are at 12,100 homes and condos for sale. We haven’t had this little of inventory since the early 1990s.
As you look at the graph, there are a couple red bars indicating that there is a buyers market…80202 is primarily made up of Condos, so this really isn’t a buyers market, there just aren’t any Single Family Residences. The other two look like there might be some opportunities for Buyers.
Buyers, when your guts tells you it is THE house, make the offer, do not hesitate. If for some reason it isn’t THE house, something will go wrong during the process and stop the sale. Trust your instinct and in this Denver housing market do not over think your decision and miss out on a great house. As long as you follow the contract and your dates, remember it is really hard to loose your earnest money, click here for a refresher on how to keep your earnest money safe.
The media and other Real Estate predictors are telling us we are expecting another slight downturn before we go back up, but remember when they are saying this they are talking about the country as a whole, Denver is experiencing a different scenario. Most communities across the country still have WAY too many houses on the market.
If you would like a market analysis on your property, email or call me.