As of April 30th 2020:
The Real Estate Market in Denver is still going despite setbacks from the Stay At Home Restrictions.
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This chart shows that almost as many homes are closing as are being listed. We have very little inventory and it is still a seller’s market. While it is a seller’s market, price decreases are happening. This is possibly due to listing the property prior to the stay at home order and then realizing without showings, homes are not getting as much interest. Some people who took their houses off the market in the past month are now re-listing them. This may be because for the past month prior to April 27th, in person showings were not allowed and now showings have resumed in some counties.
Real Estate Showings:
The counties allowing showings keeps changing on a daily basis, with some allowing all showings, some only on vacant properties, and some not at all. Check your county website or contact me to find out more updated information!
In-person real estate showings require the following conditions across the state:
Appointment only (no open houses).
Masks and gloves required for all participants.
Number of in-person participants limited to the greatest extent possible with participation by children strongly discouraged.
Social Distancing Requirements must always be met .
No overlapping showings.
Listing will be cleaned and sanitized between all showings.
After a strong start to 2020 from January to March, we are predicting that the market in the metro area was paused, not stopped. There have been many multiple offer and above list price offers even during the quarantine. This means demand is still high. We may see a spike in new listings in the next coming weeks as people gain confidence in the market. Rates are still incredibly low, and buyers are taking advantage of this, even in a seller’s market.
Please contact me for further information!
