April Market Trends Report 2019

Here you’ll find the April 2019 Market Trends Report as listed by Denver Metro Association of Realtors. Here are the main highlights:

 

• Price reductions are on the rise, which proves that unrealistic sellers are left chasing the market. Buyers are out in full force, but with the increased inventory, they are more discerning and compelled towards homes that are turnkey.
• First-time buyers are becoming more active as spring inventory is offering a wider selection. With a strategy to buy before spring prices climb, millennials are making the smart decision to move up from homes priced less than $500K to more than $700K.
• Real estate photographers and home inspectors are reporting a surge toward the typical spring market.
• We must be realistic and timely when making price adjustments in our current market and make adjustments within the three weeks of the market date. Any later, and you will most likely be missing the market, especially since February, March, and April are when we have the most buyers. If you wait until May to reduce a listing’s price, most of today’s buyers will already be living in their new homes.
• Colorado boasts seven of America’s top 25 Healthiest Communities and 28 of the top 500 overall, including the number one healthiest, Douglas County.
• Around 35% of mortgage borrowers in metro Denver are “equity-rich,” meaning their homes are worth at least twice as much as what is owed on the property, according to ATTOM Data Solutions.

You can find the full report here