Overestimating the value of a home can come back to bite sellers, which is what Denver sellers looking to make extra bucks are learning the hard way. Usually, dramatic price reductions occur when the economy is changing. But in Denver, that’s not the case.
Home sellers in metro Denver appear to be trying to squeeze every last drop out of a historic run-up in prices. But in doing so, they risk getting squeezed themselves.
In the past seven days, through Thursday, 1,433 new homes and condos came on metro Denver’s multiple-listing service. But in that same stretch, 1,539 listings underwent a price decrease, notes Anthony Carnesi, CEO and manger at Keller Williams Realty DTC.
“The number of price reductions in the six-county area is greater than the number of new listings,” he said.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Sustainability
Mention of Eco-Friendly Home Features Is on the Rise in Sales Listings
Home listing descriptions using eco-friendly terms have been rising over the past five years in line with growing consumer interest in the environment and energy efficiency
Sales + Marketing
New-Home Sales and Navigating the 3 D’s: Death, Divorce, and Downsizing
Here’s how home sales experts manage challenging lifestyle changes with and for their buyers