A commitment to understanding the market and staying ahead of the trends, is one of the reasons why Ashleigh Fredrickson at The Agency Denver is recognized as one of America’s Best Real Estate Professionals. With Denver’s real estate market always evolving and it’s essential to stay informed on the latest trends and projections. That’s why we asked her to provide us with an update on the current state of the Denver market.

While many feared that 2023 would end up being a significant correction year for Denver-metro real estate prices, the reality is that despite a decrease in buyer demand due to rising interest rates, recessionary fears and financial market turbulence, those headwinds aren’t as much of a match for Denver’s seemingly chronic low housing inventory.

The current trends are showing that our real estate market has just under 14% of the housing supply of active listings needed for a balanced market. Aside from not enough new homes being built, it’s important to remember that many homeowners that might have considered selling are staying put and enjoying their 3% interest rates instead. Despite the low inventory, the pullback in demand is causing the Denver real estate market to recalibrate to a new normal where buyers no longer fear paying peak prices and in some cases are enjoying more negotiating power.

The remainder of 2023 should follow typical seasonal patterns. It may even enjoy a slight uptake in activity should the Fed pause on further rate hikes later in 2023. Buyers will have more negotiating power in the late summer months as our market’s inventory builds, while sellers can target another great listing window in the early fall. Year after year, the real estate  market typically cools in November and December.

The Denver real estate market is changing rapidly and now more than ever, it takes experience, market knowledge and guidance from a professional realtor to ensure you are getting the best possible results in buying or sell. Please reach out to Ashleigh Fredrickson at The Agency Denver 303-589-5421 or [email protected] for a true advisor on one of the most important investments you can make.

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