A lot of people have asked, "What's going on with the Denver market?" Is it a slowdown or is a combination of seasonality, election hangover, and short-term reaction to increasing interest rates? Or, who knows what other combination of factors.
Frankly, I don't know what's causing it. REColorado released their stats for October 2018 and there were 8,502 active listings on the market, compared to 6,316 in October 2017. That's a 34.6% increase!
Podcast episode #60 dives into recent data and also compares it to historical data. Since it references PPT slides, I also recorded a YouTube video version. Feel free to email me if you want the slides.
- If you're a buyer, now is a great time to buy. Sellers are much more willing to negotiate on price and inspection items. If you're looking to buy, get looking sooner rather than later. We're actively finding good deals each week for house hackers and investors. Reach out to us for more details!
- If you're a seller, the world is not ending! It's still a seller's market. Don't use spring comps for pricing. Price it fairly to get activity and offers.