It is now coming up on the end of June. We have been gradually opening up here in the Denver area.  What is this doing to the real eatate market? Well, the market is going crazy! We are in an extreme seller's market, but with rates the lowest they have ever been in history, buyers are also getting great deals! 

If you look at the new listings and the coming soon numbers, we will have about 1300 homes on the market in the next day.  New laws were put into place that a property can only be listed as 'coming soon' once it has been marketed for 24 hours before it has to become an active listing in the MLS. This allows for a more free market so homes are not sold as often prior to even being accessible to the public.

Comparing the new listings and comins soon numbers to the closed (sold) listings in the past 7 days, and you can see that we are selling more properties that are coming in the market. Add to that the pending listings (under contract) and we have way more listings about to leave the market.  

What does this mean?  It means we are back to seeing multipple offers, above asking price on properly priced homes.  We have rebounded from the pause that the quarantine caused the market to take and our market is just a little behind where it was predicted to be without factoring in a pandemic.  

It remains to be seen what will happen as foreclosures and rental evictions are allowed again.  Possibly short sales and foreclosures will increase inventory, but because our market has appreciated so much in the past few years, people have a lot of equity in their homes overall.  

The Hope Helps Group will keep you informed of what we are seeing in the months to come!