Key Summer Real Estate Market Trends Explained

Learn how low inventory and motivated buyers impact your home sale.

Curious about the real estate market this summer? Let’s break down the current real estate trends in the Denver metro area and explore low inventory levels, motivated buyers, and the importance of pricing and condition in selling your home. Here are three key points that are shaping the market right now.

1. Low Inventory

• In the greater Denver metro area, which includes seven counties from Boulder to Castle Rock, there are currently about 10,800 properties for sale. 

• Compared to last year, we had around 9,500 homes, so there's a slight increase, but we should have about 20,000 homes for a balanced market. 

• Low inventory means it's still a great time for sellers. For buyers, it means you have to act quickly or watch for price reductions on properties that sit longer.

  
  "Offering a competitive rate boosts your home's appeal. "

2. Motivated Buyers

• Despite interest rates being above the historic average (mid-6% to low-7% range), we have many motivated buyers in the Denver metro area.

• Buyers are more selective, and properties are either selling quickly or sitting and facing price reductions. 

• This dynamic shows that while there is demand, buyers are cautious and expect value for their money.

3. Pricing and Condition

• Pricing and condition are crucial. Properties in great condition and priced well are going under contract quickly, sometimes even over asking price.

• However, buyers are more likely to terminate contracts if inspections reveal significant issues or if the home isn't in good condition.

• Recently, we’ve seen 1,200 to 1,500 homes listed per week, with about 1,000 to 1,100 going under contract. Yet, 1,800 homes had price reductions last week, indicating that about 16-17% of the market had to adjust their prices.

The market is still active, with multiple offers for well-priced and well-maintained homes. If your property isn’t selling, adjustments in price or addressing condition issues may be necessary to attract buyers.

I hope you find this market update valuable. As a reminder, our annual client appreciation event is on August 1st at Pirate's Cove Water Park. If you’re interested, please send us a message, and we'll make sure you're on the guest list. It’s a great event where we rent out the park just for our clients.