Colorado has always been a desirable location for many but no one expected just how insane things would get. This past February, the median price of a single-family home in Denver County jumped almost 23 percent year over year. The inventory of available homes plunged by more than 70 percent.
Before COVID-19 it was not a common practice to buy a home without stepping foot in it, but with lockdowns these sorts of virtual buying practices were forced by the state’s restrictions, and changed the market. More people were able to tour homes virtually and make decisions based on our trusted agents.
We always encourage to see a home in person before making the final purchase. Our agents are happy to help you preview homes, but want to make sure that what you see online matches what you feel in person. Buyer beware- not everything you see behind the computer screen is true in person. That is why it is important to work with a licensed realtor, like our team at Corken + Company, to make educated and strategic decisions in a competitive market.
With this trend we have also seen more people moving to the suburbs compared to the busy city. Fresh air and a yard have become desirable. The other trend we have noticed at Corken + Company is that convenience is key. Being close to shopping and dining, or living in condominiums with included amenities has been desirable.
COVID-19 has impacted all of us. The Denver market was greatly affected and we may not know all the ways it will change us moving forward. But what we do know is that our team at Corken + Company will always find a way to serve our clients, whether in a pandemic or not, we will make sure you find the perfect home. Contact us today!