Wednesday, October 12, 2022

Denver Real Estate Market October 2022

Denver Real Estate Market Update October 2022!

Michael Kozlowski Ranked as high as the #1 Individual RE/MAX Agent in the State of Colorado! Selling Homes for as High as $250,000 Over Asking Price in 2022!

Fall Market Uncertainty and Expectations!

As we enter the fourth quarter of 2022, we see the Denver Metro Real Estate Market in a much different place than how we started this year! We started the year with approximately 1,500 Active Listings on the market, and we currently have close to 7,700 which is 93.5% higher than this time last year!!!

This shift in the market gives Buyers opportunities like they haven’t seen for over 10 years, as Denver is second only to Boise, ID in price reductions among 97 cities with 58% of homes experiencing a price drop.

- Seller education about Market Conditions that are quickly changing is so important right now as it is not 2021 anymore.

- Buyer education is equally important as some are confusing this market with 2008 and the Great Recession which is not the case!

The rise in Mortgage Interest Rates, coupled with mixed expectations from Buyers and Sellers was evident in September as we only had 3,848 homes go Pending and 4,113 homes Close which were about 28% below in both categories from September 2021.

- The Market is approaching 2.5-3 months of Inventory, which is feeling much more like a balanced market.

We are prepared to help you with the proper expectations in this shifting market!

- Sellers we will help you prepare and price your home for success, and help to offer the right finance incentives to attract the best Buyers. Remember, the good houses in good locations and that show well and priced correctly are still selling in 2-3 weeks.

- Buyers, we will help equip you with the best financing available, and the accurate data to assist in making Offers that will be accepted and help you get from where you are to where you dream about. This may be the best opportunity for Buyers that we have seen in a decade!
The Fall Market is one of the best times to be looking at homes at a great value, and help you get into your dream home by the Holidays.

Happy Halloween!