May 2021 proved that even with a somewhat exhausting and competitive market for buyers, there is simply no slowing up the Denver Metro market. It continues to be a hot time to sell, with active listings down 20% from April and homes spending an average of 11 days on the market, down 15% from last month. Average home prices have continued to rise.
With many buyers offering over asking price, some are adjusting their search prices by 50-100K to accommodate their bidding potential. For those interested in a new build home, the time to purchase is also now. With cost of lumber continuing to rise, builders have been increasing prices weekly. Though they have worked to garner lawmaker support for the problem, no solutions have been proposed at this time. Overall, Denver has ranked in the top two cities for home showings, averaging 25 showings per listing for the third month in a row.
Whether you’re looking to sell or buy, our team at Corken + Company is here to help. With over 20 years of experience in the Colorado real estate market, you can guarantee that you have an experienced and trusted partner on your side. Not ready to purchase? Our team also offers luxury leasing and property management services. Contact us today!