"Normal" Market Trends Emerging
The informal selling season is beginning to wind down and what we thought was occurring three months ago has manifested into reality. Interest rate increases, while still at historically lower levels, have caused some pause in the market but generally for primary home buyers. This has resulted in sellers being more market-sensitive to prices and pricing more to attract buyers than to test the market. Thanks to some creative lending and more realistic sellers in the market, deals are happening - just not at the pace of the frenzy of a few years ago.
Prices remain at high levels but buyers have more options and are more critical of properties, their pricing and condition than a year or two ago. Sellers today must be nimble - but if price, condition, etc. are to the market, the demand remains. Multiple offers on attractive homes are still happening, although tempered.
Throughout the valley July and August were quieter than even pre-pandemic years, though the end of August and into September has seen more activity with some ultra-luxurious properties going under contract and more buyer demand than normal years. There is always a bit of an activity surge as we say good-bye to the summer and plan for winter's arrival and that appears to be playing out - which is a welcome occurrence - normal activity.
If you are curious about the market from a purchase or sale perspective or just want to speak in general about the valley and real estate, activities or the upcoming winter season, please reach out anytime, I'd be delighted to visit with you.
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There is more to our name than noted prestige. We are also backed by industry leadership with years of experience and an expansive reach across the globe. Family owned and operated since 1971, and with 11 offices throughout Colorado. You can trust our range, reach, and influence to help you buy or sell your home.