The spring 2019 Denver residential real estate market continues to be strong. As we predicted in our last market update, things began to cool off a bit this past winter. Prices fell off their summer peaks more significantly late last year than they did in years past, and currently prices overall are slightly down year over year for the first time since 2014. Inventory levels ended the year somewhat higher than they have in the last five years.
These data points are not unexpected and should not be cause for significant concern when thinking about the value of your home. Prices are up 4% month over month and have risen an astonishing 56% just over the last five years, and we are seeing lots of multiple offer situations already this year– suggesting that the market is bouncing back from its winter cool down.
Two of the happy clients the David Schlichter Team represented on a purchase of a home in spring 2019.
With higher than normal inventory levels, less buyer competition, slightly lower prices, and low interest rates, now could be a great time to consider upsizing/downsizing or starting a search for investment properties to create supplemental income.
Do you have questions? Whatever your goals are and whatever your timeline is, our award-winning team stands at the ready to expertly guide you through the process of selling and/or purchasing a Denver area home. We would love to meet with you to discuss your unique situation, and we look forward to being of service to you. Contact us today to schedule a free consultation.
The David Schlichter team is the #1 producing group in the #1 office for sales volume in Denver and recently received the Titanium Award for Excellence from the Denver Metro Association of REALTORS.