What Denver home buyers and sellers should know for 2020... I don't have a crystal ball, but let's be real, if I did, I would be on a yacht somewhere tropical. Below are some insights looking into 2020...
Active inventory continues to be incredibly tight as we are into 2020. Denver ended 2019 with 9.68% fewer homes. As our supply continues to be scarce, demand continues to rise, low supply + high demand = seller's market.
What this means for BUYERS:
- Start slow to go fast.
- Explore neighborhoods, understand what you are looking for, and have your pre-approval ready to go.
- With fewer homes to look at, there could be competition.
- Having all your ducks in a row can save you time, and the number of offers you'd have to submit.
What this means for SELLERS:
- Make sure your home is ready to hit the market.
- If you've been holding off on those home repairs, now is the time to make them.
- As buyers scour the MLS, you'll want to make sure your home stands out! Beef up your curb appeal!
With a strong workforce, low-interest rates, and fewer homes hitting the market, I think its safe to say we can continue to see growth in the real estate market.
Have a few more questions about the Denver market? Don't be shy, send me a DM with all your thoughts!