Market Pulse – Denver November 2020

As we head into the holiday season, the Denver market still thinks it’s summer and is hotter than ever. And with coronavirus cases on the rise, we at Trelora will continue to take the utmost precautions, and we remain committed to serving your needs with safety as our top priority. 

All stats below are based on End of Month in September vs October:

  • Homes on the market – 5,213 vs 4,965 (down 5%)
  • Average days on the market – 23 vs 23 (same, and median days are holding at 6!)
  • New homes on the market – 6,066 vs 5,923 (down 2%)
  • Homes sold – 5,914 vs 6,094 (up 3%)

What should I do as a seller?

If you’re a seller, now is definitely the time to sell. Average and median days on the market are super low. And we can’t predict what will happen when spring arrives. 

And if you’re concerned about moving during the holiday season, we can help you negotiate a Post Closing Occupancy Agreement (Seller Rentback) so that you can close in December but move in January.

However, if your house has already been on the market for longer than a month, it’s possible your listing might be getting disregarded by buyers because of your pricing, staging, location, and so on. Make sure you dig into this further with our agents and fix what you need to fix. 

Additionally here are a few blogs that might help you as a seller:

What should I do as a buyer? 

If you’re a buyer, we know it’s a competitive market, but keep swinging the bat. Many buyers are going to give up in the next few weeks and will decide to wait until 2021, meaning less competition for you if you keep trying. Be patient and persistent – our agents will help you land your dream home. 

Also, you’re still catching a huge break with the very low rates, sometimes as low as (or even lower than) 3% for a 30-year mortgage. That allows your money to stretch much further than it did at this time last year. 

Additionally here are a few blogs that might help you as a buyer: 

And always remember, if you buy with us, we split our buyer’s agent commission with you, and if you sell with us, we give you comprehensive, expert service for a low flat fee. In the meantime, please stay healthy and safe. 

Kind regards,

Christopher Stjernholm
Director of Operations
Sold over 1,000 homes