"The Denver Metro area market remains strong
despite continued low inventory levels. Qualified buyers are snapping up
properties as quickly as they become available and in many cases are being
pulled into multiple offer scenarios in order to get the home of their
dreams. Buyers who end up on the short end of the "bidding war" are
becoming frustrated with the market and lack of inventory, but are
encouraged not to lose hope and stay positive.
Naturally sellers are thrilled about the
"bidding wars" because it's pushing median and average sales prices up and
increasing their net cash in pocket at closing, but they're also quickly
discovering that the pricing sword cuts both ways as they enter the
buyer-market in search of a replacement home. The low supply of properties
and high buyer demand can be overcome as we're starting to see more
seller-contingencies listings, which can provide sellers with the extra
time they need to move on. Buyers who are patient or flexible with these
types of sales are able to land some great opportunities."
- Anthony Rael, Chairman - Denver Metro
Association of REALTORS Market Trends Committee
