The Colorado housing market has started to slow down just like the national trends are showing. This has been a common theme in many cities. Despite this slowing in the market, Denver still looks strong. Denver is one of their most expensive markets, however, it has slowed down as interest rates are rising.The 2023 Denver Real Estate Market

Currently, home prices are decreasing while the number of sales is also decreasing state. This doesn't mean it's a bad thing this allows buyers to have an easier time entering the market even though interest rates are high, supply and demand are really what determines the market and this can vary from city to city. In Denver, the demand skyrocketed in the last few years which is why prices drastically increased.

The 2023 Denver Real Estate Market

2023 Market Predictions

Currently, Colorado is viewed as a seller's market. Even with a slowing price increase, there is still more if demand than supply. This means that the current conditions favor sellers, so they have leverage when it comes to a contract. This makes it harder for buyers and creates competition. It is all worth it though because owning real estate in Colorado gives great appreciation. Owning real estate in Colorado is known for being a great long-term investment, so if you can buy, you should buy. Home values have gone up in the last 12 months and as the demand continues to exceed supply, you will continue to see that growth in appreciation.

Predictions

Unlike many other areas, Colorado is said to continue to see an increase in housing prices. Buyers should do their best to buy now because it is likely the home they love will only increase in sake price. This means that your home's worth we'll go up and means it is a smart investment for you. Sellers will continue to do well as their home's price will appreciate. With that being said, you always want to. work with a knowledgeable and trusted agent who can give you exact, current information regarding your property. They will do this by giving you a CMA (comparative market analysis,

At the same time, we are expected to see the number of available homes increase and this can be beneficial for buyers because there will be more inventory for them to look at. This means you may find a home you really love rather than just settling for what's available.

In Conclusion

As stated above, you want to work with a knowledgeable and trusted agent who can give you accurate information pertaining to your specific situation whether that be buying or selling in the Denver area. Market predictions are helpful but they don't always giber a detailed picture and things can be different from city to city. For more information on real estate in Denver or the surrounding areas, contact us. We would be happy to come alongside you in any of your real estate endeavors while keeping you up to date with the current market in Denver and its neighborhoods.