Happy New Year to all! A new year always presents new opportunities and a fresh start. If you are one of the many people with the goal of buying or selling a home in 2018, this post is for you. We will recap the 2017 Denver real estate market and look towards what 2018 has in store.
Denver remains in an extreme seller’s market. Sellers are able to put their home on the market and receive multiple offers at top dollar. This puts the pressure on buyers as they find themselves one of multiple offers. Due to the severe competition, homes are going under contract incredibly fast.
In 2017, the average days on the market by price point in Denver are as follows
- 23 days for homes under 500k.
- 47 days for homes priced from 500-999k.
- 90 days for homes priced over a million.
Like years past, buyers will have to be competitive and be a bit creative to find a home. Sellers will find they can sell their home quickly and for top dollar. Although, as prices have continued to rise year after year, we expect to see how quickly prices rise will start to slow down in 2018. This year isn’t expected to bring double digits of appreciation.
