Denver Real Estate Market Update: Q1 2023
In this video, Noah Crowley provides an update on the Denver real estate market for the first quarter of 2023. Whether you are a home buyer or seller, this update is worth watching.
For home sellers, Noah highlights that historically, spring has been the best time to list your home. During the months of April, May, June, and July, demand is typically high, resulting in the highest home prices of the year. Noah encourages homeowners who are interested in selling their homes to get in touch with him to learn more about their options.
One important factor that Noah discusses for sellers is the impact of staging on how quickly a home sells. Nearly 50% of sellers' agents reported that their listings spent less time on the market when staged. Staging allows prospective buyers to envision themselves living in the home, making it more likely that they will make an offer.
For home buyers, Noah recommends considering which neighborhood you want to live in and exploring the data to understand the competitiveness of each area. He also suggests speaking with a lender to ensure that you are well-prepared to enter the market.
If you are hoping to avoid the competition in the market, Noah recommends exploring new construction options. Lumber prices have dropped, making it a good time to consider building a new home or exploring custom construction options.
Noah also invites recent home buyers or sellers in Denver to share their tips and experiences in the comments.
Overall, this market update provides valuable insights for anyone looking to buy or sell a home in Denver in the first quarter of 2023. It is clear that there are opportunities for both buyers and sellers in this market, and with the right strategy and support, it is possible to achieve your real estate goals.