Updated: Aug 19
These four trends are happening in our Denver market due to COVID-19.
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How has the health crisis affected the Denver real estate market? These are the four major trends we’re seeing:
1. Remodeling. Whether it's improving an office space, kitchen, yard, etc., being stuck at home means many people want to create the ideal space for themselves. If this is something you’re interested in, make those plans sooner rather than later because contractors are getting booked up.
2. Outsizing. Those who don’t have a large outdoor living area right now are looking for yards that have more space. Many who have condos or townhomes are looking to upsize the backyard.
Buyers are looking for houses with more bedrooms.
3. Upsizing. Schools are either still undecided about when they’re going back in person or the date has been pushed back, and more people are working from home, so buyers are looking for houses with more bedrooms. In the past, it was unusual for people to look for more than four bedrooms, whereas now there may be two working professionals in the home who need office space, along with space for the kids. For years we had a migration into downtown, but now there’s more migration into the suburbs for more space.
4. Premium homes are selling quickly. Move-in ready properties are selling quickly and increasing in price. Buyers don’t necessarily want to buy homes that need some work and commit to a remodel project during the coronavirus.
If you’d like more information about our current market or have any topic ideas for future videos, please let us know via phone or email. We would love to hear from you.