Updated: Dec 16, 2020
Here’s what to expect from Colorado’s real estate market this winter.
Winter can be beautiful, especially here in Colorado, but it can be messy, too. What does that mean if you’re considering buying or selling real estate?
The first thing to know is that inventory in Denver typically drops by about 28% from mid-November to mid-December. Depending on your price point and what you’re looking for, it may not be the best time for you to look. Acreages and lots with extensive landscaping typically leave the market now and will come back in spring.
Good properties will still receive multiple offers in this market.
If you're looking for a standard home in a standard neighborhood, it’s a great time to sell and to buy. Although inventory is down 28%, the volume of home sales will only drop around 15%. Many homes sell during this time of year, and some are selling for even more than they would have in spring. Good properties will still receive multiple offers in this market, but you will have fewer choices overall as a buyer. There are also quite a few homes that have been on the market since summer that are influencing the numbers.
Even though there’s a lack of inventory, the Denver market remains strong. If interest rates are low and you find a property that suits your needs, it’s an amazing time to buy. If you're looking to sell, you have the opportunity to cash out with great equity or move up into a better property with a lower interest rate. In certain markets, now is the best time of year to sell.
If you have questions about selling a home, buying a home, or anything else related to real estate, don’t hesitate to reach out via phone or email. We look forward to hearing from you.