According to statistics from REColorado.com, Denver Metro Housing inventory is hovering near five-year lows, down 83% from January 2011. The trend is even more pronounced for homes under $300,000 (a precious market for first time home buyers), where inventory is down 94%.

What does this mean for the local housing market?  For sellers, expect to continue to see quick sales, with few concessions. And for those homes under $300,000, expect to see continued bidding wars.  The biggest hesitation for sellers? The ability to find a suitable replacement home.  For sellers moving from a sub-$300,000 home to a $300,000 + home, they may still be well-served in this market.  However, there are not many lateral moves available for those that cannot upgrade.

For buyers, getting an offer accepted will continue to be a challenge.  Those asking for concessions may be well served to find their own unlisted inventory.  The days of writing “love-letters” to sellers are over, as sellers may have to contend with a dozen equally lovable buyers.

The biggest winners will be current homeowners that can leverage newfound equity at historic low interest rates via a refinance.

How do you take advantage of this quick moving market? For a no-obligation personal consultation call me today. (303) 578-2329.