Granite countertops, stainless steel appliances, hardwood floors throughout, an indoor/outdoor fireplace, and a newly remodeled master bath—it sounds perfect! And it might very well be, but these days in Denver’s hot real estate market, by the time you contact your real estate agent, your perfect home may already be gone.
According to Redfin, Denver is the 11th fastest real estate market in the country. Last quarter’s report from Fuller Sotheby’s International Realty reported a 41 % decrease in inventory from the previous year and a 17.7% increase in home sales, and the average days a home was on the market dropped from 87 to 54.
When tracking listings, offers, and closed sales for one week (September 30 to October 6) to see what was really happening we find that Denver had 234 homes that were listed, 274 owners accepted offers, and 245 closed. This is one great way to gauge how fast the market is moving homes in Denver and surrounding areas.
All of these are a major factor in your next home purchase. Many of these homes have gotten multiple offers for sellers to chose from. So when preparing your offer as a buyer, make sure you are bringing your A game. Be prepared to make the best offer you can. Keep in mind that your agent is your wingman and aficionado. Hire me and I will be there to protect your best interest!