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Front Range Real Estate Market Report, April 23, 2020

Market Update, April 23, 2020
Governor Polis outlined the state’s “Safer at Home” Plan this week, which begins to open the economy and aims to protect people, especially vulnerable populations, from exposure to the coronavirus. Real estate showings will be permitted starting April 27, but we don’t know what rules will be in place regarding showings and other real estate services. The Colorado Association of REALTORS® has recommended that, at minimum, the following be permitted while maintaining physical distance:

  • Scheduled listing appointments with prospective buyers, sellers, landlords, or tenants where virtual meetings are not feasible.
  • Placement of lockboxes and signage on properties.
  • Furniture staging and real estate still and virtual photography by licensees or professional photographers.
  • Private, scheduled showings with no more than 3 people present in-home at any one time.

We expect to get details about what is allowed and what isn’t very soon. We’ll update you when we know more. Follow us on Facebook for timely updates about the current situation.

Our goal is to keep clients and staff safe and healthy. We expect to continue to meet virtually with prospective buyers and sellers whenever possible during the “Safer at Home” phase of re-opening.

Connect with us anytime. If you have real estate questions or if you want to start planning for a purchase or sale once things settle down, call The Principal Team at 720-408-7409.

Metro Denver Real Estate Market Activity

This week, fewer homes were withdrawn from the market and more homes went back on the market. Closings and homes under contract (pending) also increased.

Last 7 Days
New listings: 794
Pending: 992
Withdrawn: 203
Back on Market: 304
Price Increase: 131
Price Decrease: 404
Closed: 1151
Expired: 217

Previous 7 Days
New listings: 809
Pending: 923
Withdrawn: 291
Back on Market: 254
Price Increase: 72
Price Decrease: 420
Closed: 1108
Expired: 277

Based on data from REColorado®