There is no doubt that the Denver Foothills real estate is still…well… different. I have been doing this about 14 years and I have never seen anything like this. One thing that is predictable is when rates so does inventory. That is what is happening now. At the time of this post national average for mortgage rates was 7.36%. That will always slow down market activity.
We are still at historically low inventory numbers so that is putting upward pressure on prices. Sending them up as inventory rises. Usually as inventory rises prices tend to go down. Not in 2024 because why TF would anything be normal in 2024?
Number of Active Listings
The good news about active listings is we have more than last year! Bad news is we are still way below were we need to be to have a more buyer favor market. It is still in the seller’s favor in most areas of the Denver Foothills. What that means is if a home is priced right and your agent is decent homes are selling in a pretty good pace. It also means no matter how hard buyers put downward pressure, values still rise.
Days on Market 2024
Although days on market really ticked up in the start of the year the last couple months they are back in line with normal time frame.
Number of sales May 2024
Number of sales are trending upward after a more drastic than usual seasonal trend downward. We will see this number increase even with rising interest rates. There are ALWAYS real estate transactions under any conditions. Things boil down to how many and how fast.
Supply and Demand
It looks like supply will remain short this spring. Up from last year but that really isn’t saying much. I see values continue to rise and homes to still move faster that the past but not as fast as the Covid rush.
Orson Hill Realty is a real estate company in Evergreen, Colorado that serves the Denver Foothills and the Denver Metro. Orson Hill Realty can assist in any size real estate transaction from small land listings to luxury listing agents and buyer brokers.
Orson Hill Realty has experienced listings agents and buyer agents. Our Realtors know how use high tech digital marketing mixed with old school marketing to sell your home faster and for more money.
This technology also helps buyers find their home faster. That way a buyer never misses the perfect home again. Any real estate agent in this day and age that doesn’t leverage technology is not doing their clients any favors. All Orson Hill Realty real estate agents are Realtors.
Orson Hill Realty is a full-service Colorado-based real estate company that offers professional real estate agents and brokers to assist you in your buying or selling process. Our agents are well-versed in the local community and have a strong online presence, making them highly effective in their field. For buyers, we offer online listing alerts and a user-friendly portal to facilitate an efficient home search, with access to homes not yet on the market, and for sellers, we advertise on a wide range of listing websites to ensure high visibility for your listing.
As realtors, we are dedicated to upholding a higher level of ethics and experience in our business, and we are deeply invested in the community, with active participation in various local events and activities. Our real estate agents possess a wealth of knowledge on the local area and know how to negotiate the best prices for your needs. We offer excellent services for luxury homes and horse properties, although we handle any size real estate transaction with utmost professionalism.
Our company places a strong emphasis on technology, recognizing the importance of an online presence to meet the demands of our fast-paced industry. With multiple high traffic websites and digital marketing strategies, we ensure that your property is marketed throughout the internet to reach a wider audience. We are dedicated to providing luxury services to all our clients, regardless of the price point.
Orson Hill Realty
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