Things are looking up for buyers right now. Days on the market are up while the median price for detached, single-family homes decreased from $630,000 in September to $622,490 in October.
However, just 2,720 new detached listings came on the market, a significant decrease compared to 3,772 in September. And continued low inventory could lead to more competition as well as an uptick in prices once the new year arrives.
Still, sellers are sitting on two years of huge equity gains. Detached homes prices are up 6.5% over the same time period last year which surpasses historical national averages.
DURING THE HOLIDAYS
Between now and the end of the year, most people are busy with holiday festivities. Thats why buying or selling a home during the holiday season is such a fantastic idea.
If you decide to sell, youll get more quality traffic through the door at open houses. You can show off upgrades like a new furnace and enjoy less competition during a low-inventory time of year. As a buyer, youre more likely to encounter sellers willing to negotiate and mortgage companies with time to focus on your transaction. Plus, neighborhoods boasting the cozy holiday vibes you love are much easier to find! CLICK HERE for even more reasons why the holidays are a great time to buy or sell a home.
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PORCHLIGHT FEATURED LISTINGS
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DENVER PARADE OF LIGHTS
This free holiday spectacular features illuminated floats, giant character balloons, magnificent marching bands, equestrian units, and a special appearance by Santa! December 3: 6pm
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DENVER ZOO LIGHTS Enjoy over 1 million brilliant lights including all-new displays, nightly ice-carving demonstrations, cozy fire barrels, and all kinds of festive holiday treats and drinks.
Starts December 3: Times Vary
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BELLEVIEW STATION HOLIDAY BAZAAR
This outdoor market will feature 70+ curated vendors, fashion trucks, food trucks and street food, pop-up bars, and a heated beer garden featuring festive holiday sips.
December 10 & 11: 11am-5pm
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Dina Piterniece
Broker Associate
720.317.3649
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[email protected] |