Dear homeowners, I’m so pleased to update you on our market! For years, I know you’ve hesitated to purchase a better property. Sure, last spring our hot prices might’ve given you a very high return, but the lack of inventory made many of you hesitate. Well…our market moved in your favor for yet another month!
Slightly more listings hit our market in February while prices remained at lower levels. In fact, the median price for a single-family home was $430,000 (which we experienced in March of 2017). Yet we had 47% more properties for sale than time last year. My patient home-hunters are thrilled to have more options!!
So more properties were bought in less time, compared to January. And these new homeowners took advantage of lower mortgage rates (which dropped over the last few months from 5% to 4.5%).
So sellers this may be the news you’ve been waiting for! Yes, if these trends continue to shift, pricing your home may be a little tricky, but that’s why I’m here to help. I can’t wait to help you find the right, new home!! Contact me so we can get started on your strategy.
What does the spring hold for us? You can catch my monthly market updates, or text, call, or shoot me an email anytime with your questions. Enjoy the rest of March!
Sources: DMAR Real Estate Report & The Denver Post