Over the past month I’ve noticed a significant pick up in my business. The buyer’s that I’m working with are all of a sudden realizing that it’s not the “buyer’s market” that it once was. I’ve seen bidding wars, homes going over list price and offers coming in before the property has been on the market a full day. This morning, the Denver Post had a great article about this new market we are finding ourselves in. This quote sums it up well in my opinion, “New advice from the trenches on buying a home: Look early. Think fast. Hone your quick-draw skills with the checkbook.” A buyer can no longer take their time and make low offers because the property will be gone. Denver has the second shortest length of time a home is listed on the market before being sold within 33 days. The nation’s medium number of days is 89. However, the market turnaround is not universal; it is only for those properties listed under $500,000. The homes over 500K are still seeing much competition and lower prices.
Buyer’s Market No More?
April 20, 2012 by Leave a Comment