We are moving closer to a seller’s market especially in the price range of $350,000 or less. MOI (months of inventory) is 5.5 months in Denver. (according to Your Castle Realty Market report). A normal market is typically when the supply of homes is less than 6 months. We are seeing more price stability and hopefully with inventory continuing to drop we will see some price appreciation in the lower price ranges of homes in the Denver area.
Active listings are getting on average 8.5 showings per week, and an average of 23 showings before a home goes under contract.
With inventory dropping and interest rates staying low, it’s a great time to sell your current one and buy another home.
Also, rental vacancies have been dropping which suggests rental rates will increase more. If you are considering renting a home versus buying a home, it makes sense to compare what your low monthly mortgage payment would be compared to what your monthly rental payment would be.