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March 2021 Denver Residential Real Estate Market Update


In our collective 54 years of experience selling real estate, we've never seen a market like this one!  

 

What sometimes happens in the peak of the summer (bidding wars, buyers offering significantly above the asking price, buyers removing inspection/appraisal contingencies, back to back showings making it difficult to get access to properties, etc.) started happening in January and has only intensified since then.  

 

The median days on market in Denver County was a mere 6 in February 2021--down 50% year over year, sale prices were up 19% YOY, and there were 41% less listings YOY.

 

While we'd prefer that things be much easier for our buyer clients, we are nevertheless working relentlessly (literally 7 days a week!), to help them successfully find and purchase homes.  The thing that would be most helpful to our buyer clients, though, is more inventory!  

 

If you've been thinking about selling your home (or if you know someone who is), let's schedule a time to talk If you own a detached single family home, conditions have never been better.  And while the condo market has been slow, it is starting to see signs of life.  This is likely a result of three key factors: increased confidence in being in shared spaces due to the rising vaccine distribution, the relative affordability and abundance of condos as compared to detached single family homes, and approaching the time of year when most renters' leases are scheduled to end.

Stay tuned for more updates as we progress through the year!

 

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