Now it is a trend!
For the 2nd month in a row there has been a substantial drop in the number of new listings entering the Denver Real Estate market. Utilizing data from the past 6 years the average number of new single family listings entering the competitive Denver market dropped over 16% in April which followed a 20% drop in March. What this means to the public is the inventory will start to shrink as those properties on the market will sell. This is the first marker of a bottom!
Practical terms? If one were to buy a home today they would probably get the greatest CHOICE of properties and at the same time the BEST VALUE. We saw this happen in the late 1980s after the oil bubble busted in Denver ( it will bust) and the first indicator of a strengthening market was the reduction in homes coming on the market. Folks who did not need to sell, didn't. Folks who said "If I cannot get $X for my house, I won't sell" and the Realtors who would take those same listings could not stay in the business.
So, we are at the cusp! It is time to invest, move up, or actualize that dream of being in that bigger home. Take the step now.
The suburbs where we have not seen substantial decreases in values (each neighborhood has its own trends and real estate is VERY localized) such as Highlands Ranch, Lone Tree, Centennial, Englewood, Littleton, Parker and Castle Rock are prime right now. Their inventory will be the first to disappear and therefore we will start to see days on the market drop and prices increase.
If there is a move in the your future, you have good credit, and at least 3% down payment, now is the time. It takes a bold heart to move forward but this is a real market event that typically will signal a change in the market direction. This is not a time to think for too much longer. Get some good counsel, weigh the options, and get moving! relocating! heading towards your goal!
23 years of experience can go to work for you or your friends, learning about your new home town! Whether it is Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado, we offer real estate advice, properties for sale, multiple listing service, property listings, mls, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com
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