What Can We Learn From Last Year's Market?

Today I’d like to kick off the new year by looking back at last year’s market.

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Today, I’d like to start the new year off by taking a look back at last year. So, what can we learn from the 2017 market?

First of all, homes are still selling quickly. If you’re in the market looking for homes, you need to make sure you’re prepared ahead of time.

We’re also seeing that homes are in short supply. Though it isn’t a bad time to buy, we’re definitely in a seller’s market. 

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Though it isn’t a bad time to buy, we’re definitely in a seller’s market.

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Buyers who are looking for property right now will need to work with an experienced agent in order to find success in this highly competitive market. 

Additionally, there are currently a lot of flipped or remodeled homes coming on the market. This has been a big part of our market lately. People who have been holding onto rental properties for years are now beginning to list. These kinds of homes are definitely driving up prices in our market.

The last thing I’d like to make you aware of is that it’s still a great time to buy. Buying instead of renting will still save you money in today’s market. On top of that, why would you want to put your money toward someone else’s mortgage, anyway?

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Have We Reached a Peak in Our Market?

Have we reached a peak in our market? We’re not quite there, but we’re getting close.

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I wanted to take the time to answer another great question that a few people have been asking. I get this question on a daily basis, where people are asking, “Are we at the peak of the market yet?”

My answer? We aren’t quite there yet, but we’re really close. By the time we realize we are at the peak, it will have already passed. Just use the analogy of climbing: you’re climbing and climbing in the mountains of Colorado, and you think you’ve reached the peak, and you’re actually so close, but you’ve reached a plateau.

You’ve done all the hard parts, but you’re not quite there yet; you have a little bit further to go. That’s a lot like our Denver market right now. Homes have appreciated a lot over the last several years, and now we’re starting to see things slow down a little bit. They’re still appreciating, but we’re inching up there to the top.

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Homes are still appreciating, but we’re inching toward a peak in our market.

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Just over the last year, we’ve seen the rate of appreciation drop to about 5%. If you have a condo instead of a single-family residence, I would love to chat with you about your property because condos have appreciated over 13% in the last year.

So if you’re waiting for the right time to list your home or condo, you may miss your chance. If you’re wanting to take advantage of this great market and higher-than-ever home values, let’s do it now. Give me a call or shoot me an email and I’d be happy to help you!