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Denver Housing Market Update – March 2021
Video Transcript Below
The real estate market is booming, and there hasn’t been a better time in the history of real estate to sell your home. Right now, there is minimal inventory. There aren’t enough houses on the market for the number of buyers we have that want homes.
Hi, my name is Tristan Colborg with The Denver Real Estate Agent.com and EXP Realty in Denver. As your local Commerce City, Brighton, and Denver Real Estate expert my job is to know the market and use it to help my clients. Right now, the absorption rate is a 2 week supply of inventory in Commerce City, CO 80022 and an 212% absorption rate. Anything 20% or higher is a seller’s market and we are at 212%, which is a sign of the market hugely in favor of sellers. In Thornton, C0 80233 the there is only a 7 day supply of inventory. That is insane.
It’s A Sellers Market
That means that we are in a seller’s market, and homes are staying on the market for less than a week. With that being said, sellers have all of the control, and they can choose the cream of the crop terms and conditions. They can be very selective when choosing which offer to take. And remember, don’t be afraid to counter anything that you want that will make the transition, terms, and experience meet all of your expectations because you’re in the position to do so. Here are few things to think about. Timeframes, choose the best timeframe for the close of escrow that works for you.
Shorten Contingency Dates
Also, Shorten up contingency dates for inspections, loan, disclosures, and appraisal, or even better, take an offer that has NO contingencies at all. You could sell the home As-Is, which means that if the buyer asked for any repairs or found something wrong with the home, you wouldn’t be obligated to fix it. Also, there are typically customary things for what a buyer would be responsible for and what a seller would be responsible for. For example, in Adams County, the seller generally pays for HOA transfer fees and Owners Extended Coverage on the title, but you could counter that out and ask for the buyer to pay for it in this market.
There’s quite a few more things to consider and negotiate on your behalf. Still, I don’t want to keep you for too long, so if you’d like more information and are thinking about selling, give us a call at The Denver Real Estate Agent I would be happy to help. Also, be sure to check out our YouTube channel, The Denver Real Estate Agent, for more videos and tips when selling. And don’t forget if you’re thinking of selling your home here in Commerce City, CO 80022 or Thornton, CO 80233, we are your community experts, and we believe that you deserve an elevated real estate experience.
