Lots of Colorado Real Estate Activity

Lots of Colorado Real Estate Activity

  • Victoria Merchant
  • 03/23/23

Not much of a personal life this week, so I’m diving straight into the realtor details. 

I was still in my workout clothes the other night, and a client called and said she had looked at some apartments to rent in the Denver area (moving from a house she owns in the mountains). I’m not a fan of this because moving into a rental from owning isn’t usually a great decision financially. 

I get that spending a ton of money on a house you don’t love isn’t ideal, but you’re still getting equity, and that’s a big plus. Renting is just tossing money out the window in this situation, in my humble opinion. 

Anyway, she ended up looking at a new build house to buy after the apartments and called me immediately because she LOVED it. And, of course, for me to be included in the transaction, I need to be there. I had just put this leave-in conditioner in my hair, so I bunned it up, tossed on a sweater dress over my workout pants, and ran out the door. 

The funny thing was that earlier that evening Mr. Buyer met up with Mrs. Buyer thinking they were just going to go shopping at Goodwill. But, SURPRISE! And I give him props because the money he intended to spend last night was significantly less than what he ended up committing to. 

So we’re now under contract, and all is well in their world. Their current house will be for sale soon, so I’ll keep you all in the loop. 

I’ve had so many showings the past week, and it’s been pretty frustrating because we keep getting beat out through multiple offer situations. Even houses that have been up for sale for longer periods are starting to get tons of action. 

My clients from Washington are selling their home (in WA) and looking to buy here, we put in a few offers, and each was a no-go. They’ll be more competitive once they sell their house, so that’ll be great, but it was still a bummer. 

Inventory is higher than it was this time last year, but it’s still painfully low. It’s just difficult for buyers right now; sellers definitely have the upper hand, again!

We’re under contract for my property in Ft. Lupton and are currently in the inspection process (always the most stressful part). So I’ve been communicating a lot with the other agent to make sure there aren’t any big surprises. But it’s all moving along well. 

And I’m still working on the presentation for the developer who I’ll be meeting up with next week. Send me the good vibes, please!

Is Buying A Home Today Worth It?

Current Denver Area Real Estate Market

Spring Break Slows the Market

Spring Break is sprinkled across the market at various weeks in March and is slowing the market down in each of these areas as people head out of town. This week we saw inventory rise ever so slightly to 3,721 units for sale, new listings were down by -8.8% week over week to 993 and pending listings slowed by -6.9% from the previous week with just over 1,000 units going under contract. Overall, the market remained at 0.8 months worth of inventory signaling that multiple offers may still happen within inner land-locked suburbs. The Odds of Selling was at 64.4% this week, even though showings dropped by 9.3% across the metro area and we averaged about 3.7 shows per property per week. For units that went under contract last week it was approximately 14 showings to go under contract in a median of 8 days. Price reductions are slowing with 25.7% of homes that went under contract last week making price reductions, and the size of the price reduction was down as well to -4.8% of the original price.

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