The graph above shows the listings climbing over the last few years. You can also see the seasonal swing of the market with the largest inventory available in the summer. Still, people buy and sell all year long. If you're a buyer in the winter this could mean less buyers to compete against and possibly price discounts.
Drill down to just the past year to see the inventory at all of the price ranges. The glut of the properties sit between $350,000 - $700,000. It was also clearly a seller's market with 1-3 months of inventory, except for luxury homes over $2,000,000. A balanced market is typically 4-6 months of inventory, which we haven't seen in most Denver metro markets since the recession.
I rely on stats to confirm my gut - there's no substitute for actually getting into houses and knowing the market one works in. Being part of a large brokerage firm and hearing my colleagues' experiences gives me a hyper-local perspective. I know which areas are still seeing higher appreciation and which would be the most vulnerable in a recession, which would be most affected by new oil and gas rules and which have strict building codes. And if you ask a question I can't answer I have 120 other agents to talk with. Let me know if I can send you any additional information!
I would love to help you with your real estate journey.
Please contact me at 303-917-7143 or robbin@elevatedrealestate.com
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