Active inventory made a huge jump in May
In today’s post-pandemic real estate market, one thing is clear: the market keeps us on our toes!
Traditionally, home prices peak in June across the Denver metro area. But this year, new dynamics are rippling through the market:
– Active listings at the end of May increased by 31% month-over-month.
– Interest rates remain elevated, hampering buyer affordability.
This has led to an earlier retraction than usual for the peak selling season, already visible in this month’s data. June’s average odds of selling from 2013-2019 and 2023 was 55.7%; today, it’s 42.7%.
A snapshot of market conditions at the end of May 2024 across the Denver Metro Area. Notably, new listings are up nearly 34% month-over-month.
The speed of this market shift is remarkable. That’s why working with a full-time professional agent who is active in the market every day is so important. With a professional, you’ll get real-time, cutting-edge advice that sets you up for success.
Here’s what you need to know if you’re thinking of making a move this summer:
Sellers: Pricing conservatively is crucial right now. You might need to list for less than what your neighbor sold for just a month ago. Overpricing can result in longer time on the market and a less favorable offer price or terms. Currently, about 37.5% of active listings in the market today are reducing their prices by approximately 5% in order to attract an offer.
Buyers: THIS IS YOUR SUMMER! With increased inventory, sellers are keen to evaluate every offer and keep you interested. You can likely negotiate on price, inspections, and rate buy-downs. Rates might be higher than you’d prefer, but remember, you have options: 1. Negotiate a lower rate with the seller or check out new construction homes; or 2: Many builders have inventory delivering this summer and are offering rates as low as 3.99% with $10k in flex funds for you to use. I have a list of dozens of homes across town that are currently offering these amazing incentives.
Want to navigate this shifting market successfully? Reply to this email or book some time on my calendar here!
A seller recently asked me if their vacant home needs staging.
My answer? Absolutely!
Staging makes a huge difference. It attracts buyers and helps them form an emotional connection with the property.
Vacant or occupied, staging is a game-changer for a successful sale. Check out the video above to learn why staging is a must! 
TWO Incredible Dempsey Groups Properties Now on the Market
Offered at $499,000
Welcome to this beautifully updated single-story home featuring $30k in recent upgrades, including new carpet, flooring, paint, and stylish trim. The spacious living area with a cozy fireplace and a large kitchen perfect for hosting enhances its charm, while the versatile office space can easily become a third bedroom. Outdoor enthusiasts will love the covered front and back spaces, and the newly installed weed barrier, river stone covering, and new garage door add to the home’s curb appeal and functionality. Click here to learn/see more.
Offered at $415,000
This stunning single-story Arvada residence epitomizes modern living with vaulted ceilings, a recently remodeled interior filled with natural light, and open concept living spaces. The kitchen features sleek quartz countertops and ample storage, while the oversized primary suite offers a luxurious retreat with an updated bath and dual-headed shower. Additional updates, such as a newer sewer line, attached garage, and proximity to parks, trails, and shopping, make this home a perfect blend of comfort, style, and convenience. Click here to learn/see more.
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