Low inventory continues to challenge buyers in the Denver Metro market. From October to November, the month-end active inventory dropped by more than 33%. If these trends continue, we could be looking ahead to one of the most competitive years we've seen in 2022!

This hasn't stopped buyers and sellers from taking the plunge. 2021 has recorded more home purchases year-to-date than any of the previous five years and home values continue to grow. While interest rates remain low, that isn't guaranteed to continue into next year.

While new listings aren't bountiful, choosing to list and buy in the winter offers a unique opportunity for both sides of the deal. Listing your home while inventory is low will allow your home to stand out in a smaller crowd and could mean more opportunities to maximize your return at the closing table. Buying during the winter and holiday season often means you are competing with fewer buyers, and taking advantage of continued lower interest rates that give you greater buying power.  Offers significantly over list price continue to make multiple offers and competition the new normal, so lower interest rates will allow you to widen your scope of properties, perhaps even into our ever-growing million-dollar market. 

Want to read more? Check out the Denver Metro Association of REALTORs® full report of data for November here.

Posted by NH Admin on
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