Listings are having more showings now than ever. The average listing in our MLS had more than 14 showings in January. This is another indication of how low inventory has been compared to demand. Ten years ago, the average was four, and five years ago it was seven. We haven’t experienced over-lapping showings since before the pandemic, but they’re now quite common.
As we have been saying, it’s a very competitive market for buyers and a great market for sellers.
One way to make an offer more competitive is to become a cash buyer.
With a cash offer, you get more negotiating power and sellers get what they want – more confidence that you’ll make it to the closing table and a faster closing.
Why do cash offers so often beat offers from buyers who will get a mortgage? Very simply, it’s because there are fewer contingencies. With a cash offer, you remove the appraisal contingency and the loan contingency. By removing these contingencies, you may have a little more negotiating power in other areas.
If you have a home to sell before you buy, this may help you, too.
You could avoid paying two mortgages, move out before you sell, and ensure you don’t have to move into temporary housing before you get the home you want. You’ll be able to control your own timeline!
We are always on the lookout for services that can benefit our clients. If you’re interested in learning more about how to become a cash buyer, contact us.
Interesting fact: The value of Denver’s real estate market grew by $212.1 billion from 2010 through 2019. It grew another $208 billion in just 2020 and 2021.
Why would you pay high commissions to sell your home in this market? If you plan to sell your home soon, give us a call or schedule a consultation. We offer superior service at a low cost. In fact, our mission is to consistently provide more value and a higher level of service than any other real estate company. Reach David and Tom at 720-782-2468.
Metro Denver Real Estate Market Activity
[one-half-first]During the last week:
New Listings – 891
Back On Market – 167
Price Increase – 140
Price Decrease – 142
Pending – 1430
Withdrawn – 50
Closed – 1037
Expired – 85[/one-half-first][one-half]Previous Week:
New Listings – 773
Back On Market – 115
Price Increase – 202
Price Decrease – 129
Pending – 1305
Withdrawn – 51
Closed – 841
Expired – 74
Based on data from REColorado®[/one-half]
Trends in Metro Denver
- Home Prices
- How Long It Takes to Sell a Home
- Prices Per Square Foot
- Showings Until Pending
- Active Listings
- New Listings
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