As the final whistle has blown on football season and we shift our focus from game days to spring plans, the real estate market is heating up. If you’ve been contemplating selling your home, there may be no better time than right now. And for buyers? Despite rising prices and competition, strategic opportunities remain. Let’s break down the current market trends and why both sellers and buyers can benefit this season.
Denver Metro Sellers: Take Advantage of the Market Momentum
According to the latest DMAR Market Trends Report, the Denver metro real estate market is showing strong seller- friendly conditions. In January, the average closed price for residential properties increased by 5% year-over-year to $687,539, demonstrating the continued strength of home values. Additionally, the median days on market increased to 45, showing that homes are still selling relatively quickly, but proper pricing is paramount.
Inventory levels are beginning to rise slightly. Active listings are up 11.61% month over month, for a total of 7,688 at the end of January. The months of inventory have increased slightly to 3.4 months, indicating a shift that still favors sellers but gives buyers more opportunities than they’ve had in recent years.
Seasonally, the early months of the year are favorable to sellers because many potential homebuyers are eager to enter the market before competition picks up even more in spring. Sellers who list now can capitalize on less competition, securing faster sales and potentially higher prices. Brand-new listings are seeing an uptick in showings, while homes that have been on the market for over 30 days present opportunities for buyers to
negotiate.
However, sellers need to be very cautious about overpricing. With inventory slowly rising, buyers have more choices and are less likely to overpay for homes that do not present strong value. Ensuring your home is competitively priced and show-ready will help you stand out and beat the competition. Homes that are well-staged, updated, and move-in ready tend to receive the most attention and highest offers.
If you’ve been considering selling, let’s talk about your home’s current value and how we can position it for success in this market.
Denver Metro Buyers: Opportunities Still Exist
Interest rates, while higher than they were during the pandemic boom, are still historically reasonable. Locking in a mortgage rate now may prove beneficial if rates increase later in the year. If rates drop, you can always refinance to the lower rate. If you wait for rates to drop before you buy, you will likely face more competition and lose negotiating power.
Furthermore, new listings typically increase as spring approaches, providing buyers with more options. Median days in the MLS have increased to 45 days, signaling that some properties are sitting longer, giving buyers more leverage in negotiations. Homes that have been on the market for over 30 days present excellent opportunities for buyers to secure favorable terms.
If you’re thinking about buying, let’s connect and discuss how we can find the right home for you at the best possible terms.
Final Thoughts
The Denver metro market is moving fast, and whether you’re looking to sell or buy, timing is everything. Sellers can take advantage of low inventory and strong demand, while buyers can still secure favorable deals before competition intensifies in the spring.
If you’re considering making a move, let’s schedule a time to talk! I’d love to discuss your real estate goals and help you navigate today’s market with confidence. Call, text, or email me today to get started!
Photo Credit: Kaytlyn Perez Photography
Chelsea Steen Realtor
740-334-9898
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