What is a Balanced Real Estate Market in Denver?
Many of us wondered if 2018 was the last hurrah in the phenomenal Seller’s Market Denver Metro has been experiencing since the recovery fueled by major population growth and stifled development starting in 2013. Since our recovery from the recession, prices have more than doubled in Metro Denver since the bottom of the market in 2008-2012. With such a prolonged Seller’s Market we’ve all been wondering when it will end. Based off initial numbers coming in as our market goes through it’s traditional pick up in February, it’s not looking like it will be this year- at least for the detached market.
While it’s true that we have more inventory available in 2019, prices are determined not only by supply but also demand. If inventory rises, and demand follows behind it then prices continue to rise. Prices are determined by the relationship between supply and demand, and not by just one side or the other.
In today's episode of the Greater Metro Denver Market Review, First American Title's Megan Aller defines for us what a balanced real estate market would look like here in the Denver area and where we are currently. If you want to get a copy of the full report or have questions about your home, neighborhood or area, call or text us at 720-314-8462