After several months of severely depressed inventory levels, the number of available Denver Homes has increased – a little. Metrolist reports that the number of homes for sale increased by a little under 1,000 homes in June compared to March although we were still 16 percent lower this June than we were in June of 2012.
Its a mild releif to some of our buyers that the available homes is increasing, but we’re still encounter bidding wars and many homes are never even hitting the market because agents have buyers contacting them as soon as the sign hits the yard. We had this happen on a Highlands Ranch home yesterday.
From The Denver Business Journal:
After months of rapid movement in the metro Denver housing market, June slowed slightly with 12 percent more homes coming on the market than the previous month and sales activity dropping slightly, according to the latest numbers from Metrolist Inc.
The number of homes with a “for sale” sign in front of them climbed to 9,187 in June, from 8,214 available in May. Though that’s the third consecutive month of rising inventory, it’s still 16 percent lower than the 10,925 metro Denver homes on the market in June 2012.
“The Denver housing market is finally seeing some relief from our long-term undersupplied conditions,” said Kirby Slunaker, president and CEO of the Greenwood Village-based company. “We’re still seeing strong sales figures, which were coupled with another jump in sales prices—it’s clear buyer and seller confidence remains high.”
If you are a seller, don’t let the good market allow you to settle for mediocre representation. We market our Denver homes just as aggressively as we did in a bad market. the difference is that we are marketing them for a week or so before they hit the market. We do this to generate several offers so that our Sellers get the best possible offers for their homes. Give us a call at 303-817-0209 to learn more.
If you are a buyer, contact us to find out how we can give you an advantage in finding, and placing winning bids on, your next home. A fast moving market demands that you work with a high tech, high service real estate team.