Over the past month we have seen a change in the local real estate market that hasn’t been seen in years. Due to the extremely low inventory of homes for sale and an increase of buyers due to low mortgage rates, homes are selling at record prices and at record speeds. “New advice from the trenches on buying a home: Look early. Think fast. Hone your quick-draw skills with the checkbook.Metro Denver’s real estate market, not long ago a buyer’s domain, suddenly has shifted to a seller’s paradise, at least in some neighborhoods and price ranges.Realtors’ offices are rife with fresh anecdotes of sellers happily cherry-picking from multiple offers — some of them above the asking price.
How fast is the market moving? A new report shows that Denver is No. 2 in the nation for the shortest length median of 89 days.” Read More We are seeing bidding wars and full price offers across Boulder County and Denver lately. “Home buyers are unexpectedly finding more competition this spring in landing their dream home. Bidding wars are increasingly being reported in markets across the country, from California to Florida, The Wall Street Journal reports. Home buyers are frustrated and caught off-guard about the bidding wars re-emerging, real estate professionals report. “We’re writing a record number of offers, but we’re not seeing a record number of closings and that’s because it’s so competitive,” Glenn Kelman, chief executive of Redfin Corp., told The Wall Street Journal. “The bidding wars caused by tight inventory provide the latest evidence that housing demand is starting to pick up after a six-year-long slump,” The Wall Street Journal reports. Indeed, the National Association of REALTORS® reported late last week that pending home sales in March reached their highest level in nearly two years and are up 12.8 percent from a year ago.” Read More |
It is a GREAT time to sell!
Boulder / Denver real estate market is primed for Sellers.
Time to get off the fence and make a move! Let’s talk.