Metro Denver Housing Market – June 2023

Metro Denver’s housing market is slower and more steady than the past few years as it continues to adapt and normalize following the COVID distruption and unprecedented rapid Federal Reserve interest rate hikes. It is good news that our market is showing resilience amid downward market forces and that it is more comfortable for home buyers. The steadiness is realtive, however, as we continue to see similar homes in different areas have very different selling experiences.

One reason may be because home buyers are consolidating more toward the “need” to act vs “want” to act end of the spectrum, which supports the contrast we’re seeing between varying degress of high conviction versus relaxed buyers. Overall, home buyers are compromising less than recent years as they search for their perfect home. About 58% of sellers (5th highest nationwide) have provided seller concessions at closing. We do see multiple offer situations with competively priced listings due to limited supply and, notably, high demand for Ranch homes and those with main-level living in the south metro Denver area.

Denver continues to see an influx of new residents from higher priced coastal cities. Smaller cities across the country are also seeing an influx due to their more affordable housing prices. Mortgage lenders are offerring competitive options to help home buyers. Contact me for a referral to a great mortgage broker that can help you find a great loan for your situation.

This is a good time to buy as the market is more comfortable than recent years, and it is a good time to sell as home valuations have held up well due to high demand and low supply of housing. If you are thinking about a change, let’s chat….

I’ve aggregated the housing market information below to help Denver home buyers and sellers understand the metro Denver housing market. While it is one thing to hear an Agent tell you something about the market, it is another to have access to so much professionally reviewed and assembled housing market data from multiple sources. Newspaper and TV news journalists often use this same data to report on the housing market each month. If you value data and details, here is your deep dive. Please contact me for an executive summary or an explanation more relevant to your individual situation… I continually think about the market and enjoy applying my insights for your benefit!

I look forward to receiving your email, call, text, or social app message, and hope to be of service to you or someone you know in 2023…