The BIG question…what happened in the Denver / Boulder Metro Area real estate market in June? A LOT! Despite COVID-19 and all the required precautions, homes are still selling, and quickly. The median days on market for the entire area is at a mere 9 days, with the average price sitting around $499K. As you’ll see below, this varies A LOT depending on which area you’re looking at. Boulder, for example, has an average home price of around $855K, while Northglenn’s home prices Average around $359K. Inventory (the number of months it would take all of the currently active listings to sell) is still VERY low averaging about 1.5 months across the Denver/Boulder Metro Area, so we are still in a very strong seller’s market, with lots of competition for listings in the lower price ranges.
I have SO many people asking me, “Do you think interest rates will go even lower?” or “Do you think the market is slowing?”. My answer is always the same…. there is no way to know for sure. What I DO know is that interest rates are at historical lows. This means that people can afford more house now than they will be able to when interest rates go up, and at SOME point, they will. I also know that home prices is the Denver / Boulder Metro Area have done nothing but increase over the past few years, and I don’t see that changing any time soon. The real estate market is ever-changing and can be affected by political climate, world economics and a host of other factors, so don’t be surprised if things change only a few months down the road.
Curious as to what your home value is now? Contact me for a free customized home valuation, where I will take into account the size and age of your property, any upgrades you have made, and other properties in your area currently on the market to give you your home’s value in the current market.
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