Denver Market Report – May
I know you know this, but so much has happened in such a short amount of time. COVID-19’s impact on the Real Estate market could certainly be felt during April, in large part due to showing restrictions and uncertainty for many weeks.
The best news coming into May is that showings ARE ALLOWED throughout Denver metro!
Although there was a significant drop in closings, all markets -excluding our luxury market ($1M+), remain as “seller’s markets” with not enough supply to meet demand. With almost equal drops in new listings (supply) and closings (demand), the imbalance currently remains as demand outweighs supply.
This could change in the coming months and largely depends on how quickly the state reopens but for now we are remaining optimistic with the Real Estate Market in Denver and surrounding areas.
As always don’t hesitate to reach out with questions or more detailed statistics!