Too Hot, Too Cold, or Just Right? The Denver housing market this time of the year can feel a bit like Goldilocks trying to find her perfect porridge. Supply and demand plays a large part in when you choose to buy or sell. Denver has a year round market, not just a summer market. Demand tends to be at it’s peak between March-June so for Buyers this means more competition but it also means more listings are on the market this time of the year. Outside of these months, Denver can be unpredictable, it just depends on the year. This year, the Buyers were just plain tired when summer came to an end, but we’re starting to see a bit of an uptick with Buyers getting excited about the homes continuing to come on the market well into Fall and also a refreshing slow down to the competition they may have experienced in the Summer months. For Sellers, they need to understand that they might not have 10 offers in the first 48 hours but they will likely have a solid offer or two and it only takes one great offer to sell their home!
Aside from supply and demand running our market, the newest player is interest rates that are starting to tick up and the consistent appreciation. For example, you had your eye on a $525,500 house May 2018 and just couldn’t make the decision fast enough. Sometimes this home pops into your dreams and you wonder who is living there? and are they happy? happier than you? Well this same home May 2019 is going to cost you approximately $573,500.
So when is the right time to move forward on buying a home? If you find a home that you’re going to compare all other homes to during your search the answer is yes you should make an offer because one just like it might not come on the market for a while and it will likely be more expensive then. So whether the market is too hot, too cold, or just right lets find the right home for you and move forward on it so you can enjoy the healthy appreciation homeowners have been experiencing.
I can’t wait to talk to you about what you’re looking for in your next home. If you’re ready now or just planning for the future please reach out at [email protected]. I have lots of helpful information to get you ready and also would like to keep my eyes and ears out for your next dream home!