Tis’ the Season for Real Estate: Market Trends Headed Into the Holidays

Gifts may not be the only thing you’ll want to consider shopping for this holiday season. The unprecedented state of the Denver real estate market is full of opportunity. It is important to understand the nuances of this new territory and have the right ally by your side from the beginning.

 

With more than two decades of experience, a team of professional agents with diverse specialties, and an array of concierge-style services, Corken + Company is the best choice. We teamed up with Colorado Home Realty to bring you the current market trends as well as some important ways to take advantage as either a buyer or a seller.

 

As we all know, this has been a year of constant change. The final month and half, despite the nostalgic nature of the holidays, will likely prove no different. The pandemic surges on with new restrictions and strides in vaccine research surfacing daily, the economy is in a state of flux, and a new presidential administration is set to take over come January. Many of the social and economic conditions that can help predict real estate trends are unpredictable themselves. Instead, we turn our attention to the facts and Denver’s record-breaking statistics to determine your best real estate move this November and December.

 

The Market
If you’ve been following our monthly market updates you know inventory is low and demand is high, driving prices and competition to an all-time high. You might think this trend reflects hesitation in the market and therefore uncertainty. In other words, maybe homeowners are waiting until what they perceive to be a more favorable time to put their home on the market which in turn, will encourage shoppers to also wait until there is more inventory to shop.

 

That doesn’t however seem to be the case in Denver when listing numbers are compared. In fact, more homes have been listed this year than last. Continued activity and expected growth in Denver real estate seem to be the only certainty of 2020. CHR explains the dichotomy, “It isn’t that fewer people are selling their homes, thereby driving inventory down; there are simply more buyers than ever, driving prices up.” People from across the country are flocking to Denver for its diverse economy, promising job market, and alluring quality of life. Buyer demand isn’t going anywhere but up.

 

What this means for sellers…
The market is hot. With the right representation, marketing preparation, and pricing strategy, your home value is there for the taking (maybe even over-asking, all cash, and in the first 24 hours). And, while the holidays aren’t normally the most convenient time to put your home on the market, you may benefit from selling sooner rather than later with so many pending circumstances coming to fruition early next year.

 

What this means for buyers…
Shop until you drop! The holiday season isn’t generally a time when buyers decide to start their home search. Get a lead on the competition by starting yours. Not to mention, interest rates remain at record lows. Make the most of your negotiating power and flexible budget while they last.

 

Contact Corken + Company for all of your buying and selling needs. We have supported Denver Metro real estate, offering solutions without limits, for the last twenty years. Schedule your consultation today! If Denver’s market trends are any indication, you’re going to want a piece of the action.

 

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