It was a Monday morning. I scheduled an appointment to look with my buyers at a new listing in Platte Park. I was expecting to open a lock box and go into an empty house. Because after all, it was a Monday morning.
When I drove onto the block and saw cars parked all up and down the street, I thought, "Wouldn't it be funny if all of these cars were here to see this house?"
And then I saw it. My buyers were standing on the front porch. People were milling around the yard. I saw at least three other agents before I even walked in the door. And I saw a whole lot more inside. Agents and their clients were in every room, in the back yard, on the side of the house. They were huddled in conversation, making phone calls, making plans, probably making offers.
On a Monday morning!
I'd say it looked like an open house, but open houses don't usually attract this many people.
I'm seeing this kind of increased activity all over town. My buyers in Aurora just last month won in a multiple-bid situation to purchase a new listing. The house they moved out of went under contract in three days.
There is a dramatic shortage of good houses for sale in the Denver metro area. Metrolist shows inventory at the lowest level since 1998. And when you throw out all of the overpriced, broken down and "stale" listings (the "drain swirlers", as one of my buyers calls them), there are even fewer.
And that low inventory is placing upward pressure on prices. Metrolist reports that Denver's average home price is up 14% over this time last year.
Demand is currently really high for good, well-priced homes. Which means that, if you've been thinking about selling, now would be a very good time.
Metrolist officials are currently calling Denver a "seller's market." And they haven't done that in a very, very long time.
Wondering what happened to my buyers? We made an offer -- that day -- at 10K over listing price. And the listing agent called me a few days later, to tell me that we had “come in 6th.” In other words, they received five offers that were better than ours. And who-knows-how-many others from the poor saps who thought they could get away with only offering the full asking price.
It’s a good time to sell. If you’re thinking about it, call me and let’s chat!