April 2020 Denver Market Report
Here’s my Denver Real Estate Market Report for April 🏔📈 Enjoy!
First and foremost, our hearts go out to all who have been affected by Covid-19 -either by job loss, job uncertainty, or physical health complications.
While the state of Colorado is under strict stay-at-home orders, Real Estate has been categorized as a “critical business.” While this isn’t business as usual for the industry, many home sellers and buyers are active in the market and many of us in the industry are operating within the CDC guidelines. As a company, we are complying with social distancing requirements and safety guidelines mandated by local and state officials. This is great news if you are a buyer or seller needing to make a move.
We began March with stats that showed we could have another record-breaking month, and by month’s end while much is unknown, the data for March is positive. What we do know is that Real Estate is still being transacted in Denver. While many sellers and buyers are waiting to see what happens from the sidelines, others have chosen to list and buy during the current pandemic. April will be the first full month of data that involves shut downs and stay-at-home orders, so we’re keeping a close eye to see how the market responds to our current economic situation.
As of the end of March, all markets are still a seller’s market with Denver Metro having only 1.3 Months of Inventory. This may be different by the end of April, but if the same amount of sellers and buyers are waiting until the country re-opens, then we still have the same supply shortage as before, just with less transactions overall.
We hope to get through these challenging times together. If there is anything we can do for you, real estate-related or otherwise, please let me know.