It is the time of year that real estate agents have to realize things are slowing down a bit. Although the market is seeing a few less buyers agents are also seeing less buyers so things even out… right? Well kinda. This is the time of year between the summer with high inventory and tons of buyers to less inventory and less buyers. So real estate agents are seeing about the same amount of time for days on market (a little longer but homes are still selling in a reasonable time frame) and seeing about the same average sale price (although it has remained flat for a little while now)
What Real Estate Agents Think About the Current Market
Most of the real estate agents in the Denver/Denver Foothills area will agree that the real estate market is seeing some changes. Just about any commodity will be able to be tracked use charting data. If a buyer or seller were to look at the one major indicator of a buyer/seller market control they will see chart signs. Just like a stock market chart. Charts in real estate may not have the same sharp ups and downs as a stock chart but they are still there. If you look at the current charts there would be a hanging doji for the average sale price. What that shows is a struggle between market control. There will be an even buyer/seller market right now with sellers keeping a little control but buyers are now gaining some good ground. Knowing that the buyers have slowed going into the holidays.
Is the Real Estate Market Healthy?
Any real estate agent that remembers 2008 knows that the market health can change pretty fast. Although now in hind site we can see there were more indicators of the impending doom than originally known. Market health is important. The Denver/Denver Foothills market is showing a good amount of health. Buyers and sellers both might think they would like to be in control but a healthy market is a more balanced market. Obviously a seller’s market will drive up home value and most people like that. The problem with a market going up too fast (any market) is a the forming of a bubble. The good news is most real estate agents don’t believe we are currently in or creating a bubble. The values seem to be sticking and the market seems to continue to pay these prices showing a solid value point. Now barring a major global event (like 2008) it seems that we will be holding these values and continuing to increase at a more moderate pace than the last 4 years.
Buyer or Seller Market?
Realtors really don’t like to see a crazy unbalanced market in either direction. It makes things so much more difficult and makes things happen way too fast and too many emotions involved. With such a huge investment for people when emotions get involved it makes life difficult on both parties. When buying a home neither side wants to feel that they got “screwed”. At this point we are seeing a major shift in the direction of buyers. As an agent that makes me happy! It has been hard for buyers for a few years now. It is good to see them gaining some traction.
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