The Market Tightens as Inventory Remains Very Low...
Although the Denver Housing Market continues to be extremely hot, the lack of inventory looks to derail the momentum.
The number of active listings across the Denver Metro Area continues to be a concern. We saw an 11% decline in new listings from the prior year. The Denver Real Estate Market only has 2 weeks of inventory making it very difficult for Buyers to secure a property.
Pending listings were up by 8% however Buyers continue to face fierce competition with most homes receiving multiple offers, well over the asking price and favorable terms for the Sellers.
Prices will continue to soar with low supply and high demand. Sellers are squarely in control as the entire Denver Metro area continues to be a very strong Sellers Market.
If you are thinking of buying or selling a home in 2021, it's critical that you have an experienced Realtor to represent you that understands the challenges in every market and how to be successful.
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