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Front Range Real Estate Market Update, 1/28/2022

It’s snowing as I write this, but the housing market feels like spring or summer. Buyers are facing stiff competition for every home out there. Well-priced homes in ideal condition receive multiple offers and go under contract quickly. We showed one home last weekend that had 153 showings and 33 offers. Another had 23 offers.

For sellers, it’s a fantastic time to put your home on the market. If you’re waiting until Spring, but really would prefer to sell now, you may want to go for it. As a seller, your home is likely to be in high demand. In a seller’s market, you’ll have the edge when negotiating and are likely to get more favorable terms than if the market were more balanced or if it favored buyers. Buyers expect mortgage interest rates to rise; they’re looking at homes now, hoping to beat the increase. If it’s time for you to make your move, call us. We’re happy to provide a free, in-home evaluation of your home and an estimate of how much money you could earn if you were to sell it now. Reach us at 720-782-2468.

For buyers, of course, it’s a difficult time. The home with 33 offers wasn’t “the one” for our clients, but it’s hard to realize that 32 hopeful buyers didn’t get the home they wanted. The market slowed down for a moment in December, but the past couple of years have been tough for buyers. We continue to get buyers into homes, even in these difficult circumstances. There are many ways to make an offer get accepted; if now is the right time for you to make your move, you can find a house and get an offer accepted, but doing so requires persistence and patience.

Buyers should keep rising interest rates in perspective. Yes, rates are increasing, but they are still low compared to many other times in history. Rates were about equal to where they are now before the pandemic.

Ready to make your move? Give us a call. We’ll help you get started. Reach David and Tom at 720-782-2468.

Metro Denver Real Estate Market Activity

[one-half-first]During the last week:
New Listings – 615
Back On Market – 106
Price Increase – 170
Price Decrease – 132
Pending – 1225
Withdrawn – 59
Closed – 802
Expired – 81[/one-half-first][one-half]Previous Week:
New Listings – 721
Back On Market – 117
Price Increase – 189
Price Decrease – 140
Pending – 1249
Withdrawn – 69
Closed – 849
Expired – 66

Based on data from REColorado®[/one-half]

[one-half-first]Trends in Metro Denver

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