As the Denver real estate market continues to be one of the hottest in the country, the time that available homes are spending on the market is decreasing significantly as the demand continues to grow and inventory runs dry. Potential buyers are left with few, if any, housing options that fit their individual needs and wants. Job growth remains steady and thriving in many career sectors in Denver, and people who are already established in Denver have little desire to leave. This is due to a variety of reasons, from refinancing to school systems, job security to overall satisfaction with lifestyle.
The most in-demand price range for buyers right now is anywhere in the $200,000 to $300,000 range — even up to $350,000. Local insiders encourage prospective buyers to remain focused and attentive on what they want, so that you can act quickly when something meeting your criteria hits the market you can make an offer. If a home goes up for sale at that price and it’s priced right, experts said sellers are looking at an average of eight offers within two to three days. Having your mortgage pre-approval and a hefty down payment can help you secure the sale over competing bidders. The most bids that a recent available home garnered? 16 competing offers!
Thinking of moving to Denver? Be sure you have the flexibility to buy quickly and you might want to consider renting in the interim, though the rental market is showing increasing popularity as well.