The 2022 Denver Metro real estate market continues to look up for sellers. Active inventory continued to be down in December 2021, as well as homes closed. Year over Year, median sales prices have increased 17.8% from 2020 and sold homes are down 11.4%. If you are considering listing, now is the time to do it. The market tends to act seasonally- as temperatures rise so does market activity. Last year, we saw the market get hot much earlier than the temperatures. If this year is anything like the last, being ahead of the curve and listing earlier in the year may be to homeowners’ advantage.
According to the Denver Metro Association of Realtors, in their January 2022 real estate market update, “Looking ahead, experts anticipate many of the housing market trends of 2021 will continue in 2022, albeit at a more moderate level. Strong buyer demand and inventory shortages are likely to persist over the next year. Home sales are projected to remain strong but will be tempered by the limited supply of homes, higher sales prices, and rising interest rates, with the Federal Reserve planning multiple rate hikes in the new year. Price growth is expected to slow somewhat as a result, but affordability will likely remain a top constraint for some homebuyers.”
So, what does this mean for buyers? Many experts predict that the market will continue to be competitive for this year, and at least the next couple. Having an experienced realtor, like the team at Corken + Company, can help you get into the home of your dreams. Buyers will need tough negotiators on their side and be well prepared for their purchase. Our team brings over 20 years of experience to the Colorado real estate market. Our team will help to ensure that you are prepared for your home search so that when you find “the one” you are ready to act fast and competitively.
Infographic provided by the Denver Metro Association of Realtors here.
Looking for a more in depth real estate market update relative to where you live? Call our team at Corken + Company! 303-858-8003