Wheat Ridge, Colorado Real Estate Market Report February 2022

February 2022 East Wheat Ridge Real Estate Market Trends

The latest Denver housing market report for February 2022 showed that the real estate market went down by 17.77% in new listings compared to the previous year and a 31.04% increase from the previous month (it's usually low because of the holiday season) and residential properties especially single-family detached homes in Wheat Ridge, Colorado are no exception. The shortage of homes for sale in the Denver Metro area and the entire U.S. real estate market is one of the biggest factors of the continuous increase in home prices. 

The real estate housing market report in Wheat Ridge, Colorado for January 2022 was a record-breaking month. It is evident that there is also a shortage of available homes for sale in Wheat Ridge, Colorado. As expected, it's also showing a strong seller's market for every property type and every price point of homes for sale in Wheat Ridge, Colorado. The main focus of this real estate market report is the homes in East Wheat Ridge, from 26th Avenue to 44th Avenue and Sheridan Boulevard to Wadsworth Boulevard. In January 2022, it showed a historically low number of active homes for sale in Wheat Ridge, CO with only 2 homes available at month's end. It also reflected in the number of sold homes which also showed a record-breaking record of only 2 sold homes in Wheat Ridge, CO. However, the home prices in Wheat Ridge, Colorado skyrocketed by a 16.32% increase showing an average listing price of $642,280 compared to the average listing price from the previous year which is $545,378. Homes in Wheat Ridge, Colorado are also still selling fast with only an average of 6 days in the market. The good news is, we are seeing improvements on the number of homes being listed on the market as January 2022 showed a continuous increase in the number of new listings every month since November. January 2022 had 10 new listings in East Wheat Ridge compared to the previous months (3 in December and 6 in November).

As one reflects on February 2022 housing market report in Wheat Ridge, Colorado, there were fewer homes that were bought and sold because there were fewer homes for sale in the East Wheat Ridge area to choose from. It also resulted in the continuation of the strong seller's market, skyrocketing home prices, and extreme bidding wars of buyers looking to buy a home in Wheat Ridge, CO. This challenging market will lead to the frustration of the buyers however, there are still ways to win with the help of the implementation of a new strategy.

What is the strategy? For buyers looking to buy a home in Wheat Ridge, CO, one must do one's due diligence as well as work with an experienced real estate agent in Denver that has a proven track record to understand what your comfort level is when it comes to your budget and what the buyer has been originally approved for. Buyers can also create a list of their 'must-haves' and 'deal-breakers' to further help buyers decide best on the home they're planning to buy. If you are a seller looking to sell your home in Wheat Ridge, CO right now, it's is definitely the perfect time to do so as you can expect it to sell quickly and to receive multiple offers - there is a huge possibility of selling your home for top dollar with the right condition and with the help of a real estate agent in Denver that has a strong marketing strategy and negotiation skills.

If you are looking for homes for sale in Wheat Ridge, Colorado, we can help you find the perfect home for you.