As Colorado’s Stay-At-Home orders lifted on May 9th, we saw a surge of activity throughout the metro area:
NEW LISTINGS shot up by 56% compared to April. We had over 7,300 homes come on the market throughout May. Much of these homes and April’s listings went under contract by the end of the month, leaving us with about 7,200 listings.
SOLD HOMES were down by 19% (no surprise), considering many sellers pulled their listings off the market in April, and showings were not allowed.
UNDER CONTRACTS skyrocketed as buyers felt comfortable enough to tour properties with our new safety guidelines. 115% more homes were on their way to closing than in April (source: Denver Metro Association of Realtors).
AVERAGE SOLD PRICE and DAYS ON THE MARKET remained stable and strong.
While it was a month filled with uncertainty and chaos towards the end, people still needed to move. Interest rates have been near record-breaking lows, allowing some buyers to purchase. And many sellers were deciding to move closer to family, upgrade to a home with more room/functionality, etc.
Times are certainly changing (even while our market remains intense). I’m here to help you every step of the way. If you’re thinking about your next move – let’s talk. I’d love to offer you advice, resources, and/or a professional strategy. James Button: 303-547-4776