Denver | Mid-February | Top Ten Talking Points

1) Market opportunities are changing weekly

2) We have entered into a Compression Cycle where we have more buyers in the market than homes to sell them.?

3) This creates a shift between the relationship of supply and demand where multiple offers are now being brought out.?

4) Predictive Months Supply of Inventory down to 0.9 months. When this number drops below 1.0 months it means that multiple offers are likely.?

5) If a home is priced right, shows well and is correctly positioned in the market, they are going under contract in just over 2 weeks- vs. looking at the closed numbers for January 2023 showing Median Days on Market at 28.?

6) The inner land locked suburbs just inside C-470 indicate a high level of demand and very short supply creating many multiple offer situations.?

7) Cooler areas include just south of DIA in Aurora, Lodo, Brighton, Sterling Ranch and Elbert County. These cooler areas have something in common, new construction supply.?

8) This new construction supply is increasing inventory forcing existing homes at a similar price point to stay on the market longer as builders offer incentives to purchasing a new home.?

9) You will find that you have more negotiating power in these areas with the ability to get concessions and negotiate down the price.?

10) Expect things to slow down ever so slightly this weekend with Super Bowl, but the market at average price points will roar back to life over President's Day Weekend.