With the 4th of July behind us, our market has entered our seasonal slowdown. The dynamics are shifting as inventory increases and demand declines. The current trends and data show we’re shifting to a cooler season (source: DMAR and Megan Aller, First American Title):
- Multiple offers have decreased to about 39% of listings.
- Sales prices remain strong.
- Our seven most popular counties have 1.3 months of inventory, significantly below a balanced market of 6 months.
We expect the supply to grow steadily throughout the remainder of the year. So, buyers, this could be your moment to make their move. You have more options in a less competitive environment and greater negotiating power than in the last few years. Sellers, don’t be alarmed - your chances are still excellent to receive your asking price. A more balanced market benefits everyone. Text, email, or call me at 303.912.5394 or [email protected].