A common question we get asked a lot here at Property Scouts is “Is it still a buyer’s market today in in Denver, CO?” Unfortunately, there isn’t a simple yes or no answer for that question.
What Is The State of the Market for Buyers in Denver, CO
The first thing we can tell you, the location and property type can make a difference. A single-family home in a great location with a good price won’t stay on the market for long. The demand is higher in some areas and ghost like in other areas.
Buyers all want the same thing: A good neighborhood, public transportation and easy access to roadways, good schools, plenty of shopping, and close to work. If a property can offer all of those things, then it is a hot property, and that makes it a seller’s market.
A different story are the condos and townhouses that are just off the beaten path or have a funky feature. Some areas of Denver have been on the lower end of the market, but recently, there has been an increase in the market, and it is still climbing.
There is a demand for investment properties thanks to the influx of foreign cash making its way into US. This has had some unique impact for the Denver market.
For the most part, properties are going for cash at good deals. This has drawn many to the sellers’ market just to see what kind of offer they may get. Real estate investors are walking away from several deals that just aren’t making good sense for the future.
Buyers are still hitting obstacles when it comes to financing with banks still towing a strict line of requirements. From large down payment to last minute changes in the loan terms, buyers are seeing their preapproved loan getting yanked off the table at escrow. This scenario has gotten better, but it still happening, and that has polarized the overall market.
Confused? Property Scouts Can Help.
The US economy has a lot of shakeup going on right now. This has the markets moving fast and in several directions at the same time. Staying steady though is Property Scouts – we are paying cash for Denver and the surrounding area ever day.
If you have a house that you need or want to sell, Give us a call anytime 866-366-4863 or fill out the form . We’ll be in touch within 24 hours and talk to you about what we can offer you for your Denver house today.
We are still investing in Denver because we have faith it is going to turn around. We are in the business of buying properties in any condition and offer a quick closing too.