Because we don’t live in Las Vegas, Phoenix, Southern California or Florida, none of us will really ever know how bad it could have been here in Colorado. Don’t believe me? I’ve got Realtor contacts in those cities that will give you horror stories about sales in those markets that will give new meaning to the Denver Post’s motto: “Tis a privilege to live in Colorado.”
Speaking of the Denver Post, they reported a couple of days ago that Denver metro’s inventory of unsold homes has dropped as has the average days on market.
Homesellers in Denver take note: this means that the supply is low for buying real estate, which means when you combine that with attractive interest rates, the buying pool (in certain price ranges) isn’t being satisifed. With fewer good homes for sale, there are willing buyers who are becoming discouraged with the selection!
I had a client purchase buy his new home (first home) last month after he was shut out from two other houses that he lost in bidding wars. Party like it’s 1999….
Karl Lueders is a Realtor with the Kentwood Company at Cherry Creek. You can visit him at his Web site, Karl Sells Denver, or by calling him at 720-971-8267.