Is it just me or are there no houses for sale?
UPDATE: MARCH 2019
Can’t believe 4 years later the inventory is way lower than when this article was written. We have about 40% of what we did when this article was originally published.
Every morning when I start work one of the first things I do is look at this chart on my Metrolist (MLS System) Account. This chart only shows Evergreen, CO. Lately it has been telling me the same same story day after day. It has been telling me we not only short on inventory but we are actually not listing enough homes to keep up with solds, under contracts, expireds. This means that instead of adding to our inventory we are actually going backwards in a market that didn’t have enough inventory to begin with. This has been getting buyers a little frustrated to say the least. It hasn’t been a sellers market in a while and buyers are not used to that. They also are finding the house they want and then trying to be tough negotiators or low balling the sellers that already have multiple full price offers on the table. The sellers just don’t have to give much at this point. I don’t want the home buyers out there to get discouraged. There are homes for sale out there, they are nice homes and the prices are still good for the amount of demand here. Interest rates are still very low as well. It is still a good time to buy a home here in the the Denver Foothills area.
Number of active listings in Evergreen and Conifer
This chart here is for Evergreen and Conifer. It reflects the number of homes on the market for the last 17 months. We are still about half of where we were last year. That is very odd to me. If you are a buyer and can’t seem to find that perfect home this is why. If you are a buyer and do find that perfect home but your broker tells it is under contract before you even get a chance to set an appointment to view it, this is why. If you are home owner that is thinking about selling your home and you are on the fence, this is the time to sell!
I did not write this post to discourage you. I wrote this post to explain to you why you can’t find the home you want. The good news is that history tells us these trends don’t last long. The inventory should be getting back close to normal levels this quarter. So keep up the home search and have fun doing it!