Anda Pilmanis - Realtor

The August statistics for metro Denver show.....the Denver market has slowed! It is now considered a balanced market, so buyers and sellers have equal bargaining power.

Gone are 20+ offers in the first 24 hours, showings lasting only 15 minutes, buyers waiving inspections and ridiculous over asking price offers. I know of buyers offering up to $500,000 over the $950,000 asking price and giving up all their objection rights, just to get the home. Sellers,.... unfortunately the "sellers' bull market" is gone!

When interest rates rose quickly, everyone expected them to fall just as quickly, buyers were told "date the rate but buy the house", from lenders and the media. They could afford the home if they got and ARM-variable rate loan- fixed at a very low interest rate for the first 1-3 years..... because they could refinance into a low rate loan once interest rates had fallen.There are many buyers that unfortunately bought a home then just like they bought the hype.

I'm seeing some homes bought in 2021-2023 with an ARM now being sold because interest rates are high and not at the 3-4% range. Some buyers gambled and have lost big.

For example, an updated home in central Denver, is listed at $1,100,000. It was bought for $1,200,000, $225,000 over the asking price. The home's estimated price now is $956,000 - $1,104,000, and comparable market price is $1,030,000. It's been for sale since early May 2025, initial price was $1,275,000. Despite price reductions and changing agents they can't get it sold.

SO buyers... you are in a stronger position than for many years and sellers....don't price your home for the market several years ago. Let me the real estate "geek" help you.

If you (or your friends/ family) are thinking of selling or buying a home, please hire me as your agent or give them my name and contact details📲. You'll get straight forward advice so you're in the best position to be successful in THIS market.🏠🔑🎉

Townhomes, condos have 12+ weeks of inventory...as I mentioned probably because getting H06 insurance is much harder to get.

I would love to be your real estate agent! Call, text or email me if you need help buying or selling a home.

The spring selling season is starting to kick off and The February 2023 Market statistics show prices are starting to rise, as they usually do coming out of winter.
Overall the Metro Denver area median single family home prices have dropped 3% from a year ago, that is despite interest rates being about double where they were a year ago.
The number of homes going on the market is 17% fewer than last year because people don't want to trade up to a more expensive home if they don't have to.

There is some good news for buyers - there is now about 6 weeks of inventory on the market not just 2 like last year. Plus homes are staying on the market longer- they usually go under contract within 27 days not the 4 days or less it took in 2022. So you have a bit less competition in making offers. But popular homes with all the bells and whistles will still have a bidding war and get over asking.

February 2023 Housing Market Stats The Denver Metro housing market typically sees an increase in activity as the busy home buying and selling season gets underway, and this year is no exception. Check out the full market stats report for February 2023.