January 2024 Denver Real Estate Market Trends

 

New Year. New Opportunity!

What opportunities will you have to buy or sell a home this year? Don’t think you’ll have one? Think again!

Let’s start by looking waayyy back to December 2023, and then we’ll look forward.  Aside from the seasonal slowdown, higher interest rates and low inventory, have had the most impact on the market.  You can dive deeper by clicking the full Denver Real Estate Market Trends  report, and know I’m always here for you with home values and neighborhood trends catered to your specific needs. Now, back to the future.

In my experience…

Winter is the best time to buy a home. Fewer buyers are willing to face the cold, postponing their shopping for early spring, giving you an opportunity to make an offer with less (or no) competition. And sellers who sell in the winter generally have good reason to. This means their motivation is driven by their needs rather than their wants. Another opportunity!

Waiting for the rates to fall?  Don’t. While nobody knows for sure what will happen in 2024, we are anticipating multiple rate drops as the economy stabilizes, but the “waiters” often lose. Think about it. If you buy early, you’ll be gaining equity as prices rise with demand. Buyers who wait to time the market will face a different set of challenges. Lower rates bring more buyers, bidding wars and higher prices which increase the gains for those willing to buy now and refinance once all that rate dropping happens.  Today’s rates from my lending partner, Select Lending Services, look a lot better overall than where we were last year.

 

 

Let’s talk about how 2024 can open a real estate opportunity for you!