Blog

January Real Estate Market Report: Cheesman Park, Country Club, Morgan's Historic District, and Congress Park

Denver Real Estate Market Report

By David Schlichter 

It should be no surprise that last year's real estate market was markedly slower than any in recent memory.  After more than a decade of historically low interest rates, the Fed raised rates rapidly in a bid to slow down inflation.  Thankfully, now that inflation has cooled down, mortgage rates have begun to come down too.  Rates are down more than a percentage point since late October, with the average 30 year fixed rate loan interest rate nationally falling from nearly 8%, on average, to just over 6.5%.  

This drop in interest rates has begun to motivate buyers who had been deferring purchases to get off the sidelines (increasing buyer demand), and the consensus view from economists and the Fed itself is that consumers should expect interest rates to drop further as 2024 progresses.  Expect the market to heat back up in 2024!

If you've been thinking about selling a home and/or buying another, contact us today so that we can ensure that we make your real estate goals your reality.

Cheesman Park, Country Club, Congress Park, and Morgan's Historic District: Neighborhood Activity

Neighborhood Activity

 

Cheesman Park, Country Club, Congress Park, and Morgan's Historic District: 2023 Market Stats

Cheesman Park, Country Club, Congress Park, and Morgan's Historic District: December Market Stats

 

Denver Metro Area: 2023 Market Stats

Denver Metro Area: December Market Stats

The Denver real estate market is typically slowest in December and starts to pick up notably between now and the late spring/early summer.  With interest rates expected to drop throughout the year, it is possible that the spring frenzy may be extended this year--but a lot will depend on when/how quickly rates fall.

Predictions for the 2024 Denver Real Estate Market

If the last few years have taught us anything, it is that none of us can ever definitively know what is around the corner. That doesn't mean, though, that it is impossible for a prospective home seller or buyer to plan for the future. Our award-winning team interacts with hundreds of home buyers and sellers every year, and our unique vantage point on the market enables us to empower our clients to be as informed as possible about what is likely to happen in the next year as they think about when might be a good time to sell and/or buy a home.

 

Interested in learning more about the neighborhoods featured? 

Cheesman Park

Neighborhood Guide | Market Report | Browse Properties

 

READ ALL OF OUR BLOG POSTS

Blog

FOLLOW US ON INSTAGRAM

WORK WITH THE SCHLICHTER TEAM

Contact the top-ranked Schlichter Team today to get started on the sale and/or purchase of your Denver area home.

Contact Us