Many of my customers ask me Sean, is now a good time to sell with winter approaching?
Well the first thing to understand is that there is no such thing as a normal market! The real estate market is always changing and its sometimes hard to predict what will happen. I always look to numbers and facts for reasoning.
Between July of 2014 and July 2015 over 200,000 people moved to Colorado. Most of which to the Denver area.
The Denver apartment vacany rate is at 4.8%.
Home sales from last month are up at 3.2%.
Median home price is up 15.2% from the 2nd qtr at $350,500.
After looking through these numbers its not hard to see that why we may have a small slowdown while holidays approach us, there are still lots of people shopping for homes. With vacany rates so low that means rents are continuely on the rise. I think next Spring could be bigger than July of this year. So heres my conclusion.
Is it still a good time to sell…. Yes. Still a good time to buy….YES
Denver Real Estate Market Update