Winter months are the slowest for Real Estate in Denver. Right now the average time on market is about 15 days longer than the summer months, we have 40% less homes up for sale, and seller's are negotiating more than any other time of the year.
If you need to buy a home in the next three months open up your search to several areas so you have more options to choose from. Sellers that have their homes up for sale right now are motivated to move and you can expect to get 3% off of their asking price. You will be smart to buy soon as home prices and interest rates are rising. We are expecting interests rates to rise in 2018, some lenders are expecting it to go up to 5%.
Sellers need to make sure their homes are in top condition. Buying activity will be slow for the next 3 months so make the most of your showings.
