Checking the MLS yesterday in the "NORMAL AREA" known as Denver there were only 14,379 single family homes listed for sale. If there are 400,000 single family homes in Denver then we have fewer than 3.6% of the properties for sale. Not a huge inventory given there are about 2.5 million people living in metro Denver, and yes that includes the suburbs.
In the last few years Metrolist has added the Boulder, Fort Collins, Colorado Springs and other multiple listing services to their data stream so it is harder and harder to find good data. Add to the the blending and "merging" of Boulder/Longmont into metro Denver, and the real estate statistics really get blown out of the water. It is just hard to see where the boarders are. So sometimes experience counts!
My latest experiences tell me I need to counsel more on the stress this market induces. I may enjoy negotiating (and winning), but some folks find this business much more intense and frustrating, especially when there are multiple offers, and with only one exception, every property we have dealt with this year has been a bidding war. Everyone wants a deal, and so do the other buyers. Listings are being priced low so they INDUCE multiple offers and an AUCTION atmosphere. Be ready before heading out into this market, especially the first time buyers.
Make sure to talk to a Full Time Licensed Colorado real estate broker before you make any move. I go to work everyday for you & your friends, learning about our home town! It could be Highlands Ranch, Lone Tree, Littleton, Castle Rock, Centennial, Englewood, Parker, Elizabeth, Larkspur, Franktown, Kiowa, or anywhere in metro Denver Colorado. Talk to me for real estate advice, properties for sale, multiple listing service, all available at www.DenverRelocation.com. Drop me a note to pete@Denverrelocation.com
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