Real Estate Headlines

Have you read the stories about home sales in the Denver area recently?  The articles make it sound like multiple offers are the new norm for a sellers market.  For first time buyers, competing with investors, it can be very frustrating.

 I’ve also explored the other side of our market. This past week I toured homes in an exclusive neighborhood of custom homes in Parker Colorado.  There were 5 absolutely gorgeous homes for sale starting at $1,200,000.   I thought to myself, why haven’t these beautiful homes sold?  Have any other homes sold in this area?  And here’s what I discovered; in the past 6 months only 1 home over $1,000,000 has sold in this neighborhood.  There are currently 11 homes for sale over $1,000,000 in this neighborhood, and 197 homes for sale over $1,000,000 in all of Douglas County, Colorado.  Based on the recent sales and amount of inventory, this price point is still a buyers market.   

 My point is not that one price range or one area is good or bad.  It is merely, that the headlines and stories you read are just one piece of our entire real estate market.  Real estate markets vary by city, and more importantly, there are variations within those sub-markets. When you need specific real estate information, consult a professional.  Headlines don’t tell the whole story.