We are living in a very unique time in the greater Denver area right now. You see usually its either a buyer’s market OR a seller’s market. But right now it’s both.
How can that be?
Well, sellers are enjoying extremely low inventory levels. That’s a fancy way of saying that there are not nearly as many homes on the market right now as there were last year…and no, it ain’t seasonal. So there is a massive amount of demand and the Average Days On Market (which is a fancy way of saying how long it takes for homes to sell), has fallen dramatically. Congrats sellers!
But buyers are enjoying extremely low interest rates. That’s a fancy way of saying that buyers can buy more house than they could have last year for the same amount of money. So buyers are coming out of the woodwork to take advantage (as they should!). The last several deals I did were all in the low 3% to high 2% range. Congrats buyers!
So, for the first time as far back as I can remember, it is both a good time to buy AND a good time to sell…and if you’re doing both, well, that’s kinda like double fisting at a Wash Park barbecue on a cool summer evening!!