Things to Know about the Colorado Real Estate Environment
Real estate markets are rapidly changing environments – one new law, one important decision that influences interest rates or one important investment into a region is enough to change the layout of the market almost overnight. This volatility also means that making predictions about how real estate markets, including the market in Colorado, will change is very difficult, if not completely impossible, the only thing that can be known is the current state of affairs. Here are some things that are important to note about how things are right now in the Colorado real estate environment:
- A hot market – the real estate market in Colorado right now is very hot, meaning that the relatively low inventory is associated with a high level of demand. This means that this is the right time to sell your property almost regardless of the category of the property.
- Prices going up – as it can be expected of a hot market, real estate prices keep increasing not only in the Denver metropolitan area but almost on the entire territory of the state.
- Inventories on the rise – the recent changes in interest rates predict a market change in inventories in the future, with the number of properties offered for sale increasing quickly. This also means that the hot market that you see today can take a path towards cooling a bit in the next few months.
For all your Denver area real estate needs, talk to area specialist Tom Ullrich. Tom takes pride in having helped neighbors buy and sell their homes for 39 years. Tom brings a personal touch to the real estate business through his honesty and experience.