RESIDENTIAL

Currently, the single-family home market is seeing much less competition, so it’s a time to buy IF you’re well-prepared on the financing side.

Also today, a lot of people are locked in with great rates and feel like they cannot sell. For those homes that do come to market, the time on market averages 29 days compared to two years ago when a home would go under contract in two days.

In January 2024 Denver had 2,379 homes for sale, ranging from $35K to $32M. But while existing home sales are at the lowest level since 1995, new home sales increased. New home sales have reached 30 percent of the national market, up from 10-15 percent historically.

Numbers don’t stop life from happening. People continue to buy and sell homes because of marriage, kids, divorce, jobs and employment advances, and retirement. To wit: single family home sales were at the lowest level since 1995 last year, but still more than 4 million homes sold.