A Sign that the Denver Market is Still Strong

This house was only on the market for two days at the end of July. Multiple offers above the asking price came in within 24 hours.
This house was only on the market for two days at the end of July. Multiple offers above the asking price came in within 24 hours.

We just listed a house and received two offers in less than 24 hours that were both above the asking price. Despite claims that Denver housing market growth is leveling off, the momentum we’ve seen suggests that it is still quite strong.

On Thursday, July 28th, we added a new listing in Denver near Chaffee Park and Regis University. On Saturday, July 30th, the house was already under contract for almost $10,000 more than the original asking price. Today, another of our listings in Evergreen just went under contract as well.

Some evidence suggests that sellers ought to exercise caution. A recent article in the Denver Post claims that Denver homebuyer demand has been plummeting this summer, despite an increase in home listings. In our experience, particularly in light of very recent events, there is still plenty of activity among buyers.

Interest rates are low and Denver’s job market is healthy. This could be a good time to sell if you’ve been thinking about it.

elmct_1