Realtor Insights
Denver’s real estate market is going through a phase of normalization. While this brings some stability, there are still significant affordability challenges. This presents a unique opportunity for serious buyers and sellers to negotiate favorable deals in the second half of the year.
Key Opportunities
- For Buyers: With the market normalizing, there are more options available. Buyers can leverage this to find better deals.
- For Sellers, Increased listings mean more competition. Sellers can still benefit from pricing competitively and highlighting their properties’ unique features.
Quick Stats Snapshot:
Understanding the numbers behind Denver’s real estate market can provide deeper insights:
- Average Active Listings for May (1985-2023): 14,895
- Record High for April (2006): 30,457 listings
- Record Low for April (2021): 2,075 listings
- Historical Average Increase in Active Listings from April to May: 7.48%
- May 2024 Increase: This year, active listings in May saw a 31.03% increase, setting a new record and surpassing the previous high of 26.8% in 2019.
Market Dynamics
The increase in active listings this May is significant. Historically, the average rise in listings from April to May is about 7.48%. However, this year, the market saw a 31.03% jump, indicating a surge in available properties. This surge surpasses the previous record of a 26.8% increase set in 2019.
This dramatic rise suggests that more homeowners are putting their properties up for sale, likely due to the normalization of the market. For buyers, this means more choices and potentially better deals. For sellers, it means increased competition and a chance to sell at favorable terms if the property is well-presented and competitively priced.
Strategic Moves for Buyers and Sellers
Given the current trends, here are some strategies for both buyers and sellers:
- Buyers:
- Explore New Listings: With the increase in active listings, more options exist.
- Negotiate: Use the higher inventory to negotiate better prices and terms.
- Act Quickly: Good deals can go fast, so be prepared to act swiftly.
- Sellers:
- Competitive Pricing: Price your property competitively to attract buyers.
- Highlight Unique Features: Make your property stand out by emphasizing its unique attributes.
- Stay Informed: Keep up with market trends to decide when to sell.
Conclusion
Denver’s real estate market is experiencing significant changes, presenting unique opportunities for buyers and sellers. Both parties can navigate the market effectively and achieve favorable outcomes by understanding the current market dynamics and employing strategic approaches.
Key Points
- Denver’s real estate market is normalizing, but affordability remains a challenge.
- Opportunities for buyers and sellers to negotiate favorable deals in the second half of the year.
- Average active listings for May: 14,895 (1985-2023).
- Record high for April (2006): 30,457 listings.
- Record low for April (2021): 2,075 listings.
- The historical average increase in active listings from April to May: 7.48%.
- May 2024 saw a new record with a 31.03% increase, surpassing the previous record of 26.8% in 2019.
You can make the most of Denver’s evolving real estate market by staying informed and proactive.
