Denver Housing Market Update – May 2020 (Coronapocalypse)

Helping busy families feel right at home.

Metro Denver’s housing market saw major decline with home showings dropping to a record low mid-April due to the Stay-at-Home Order. With restrictions lifted to Safer-at-Home on April 27th, approximately 3500 showings were scheduled that day, more than any other Monday in 2020.

What I’m seeing during the COVID season: If you’re in the market under $500k, the market is still moving very quickly. Sellers are selling high and fast because there’s even LESS inventory than we had before and still a glut of approved buyers (who are enjoying historic low interest rates). If you’re over $5/600k, you likely pulled your house off the market and are waiting for normalcy to return. This is certainly one logical response that I won’t argue with. On the other hand, Denver metro’s buyer demand is still very high and they simply have almost no homes to choose from with many of them settling into
apartments until the market pick up again, so if you were to go through the proper procedures and precautions, you could likely sell very high and fast.

We are blessed. During the pandemic, I have been able to list and sell 3 homes successfully and Richmond has completed one of our buyer’s homes on schedule. And we have 3 new clients looking to buy and/or sell. Incredibly grateful for your referrals.