July 2024 Real Estate Update - A Shifting Market

The real estate market continues to evolve! Compared to July 2023, we have 29% more active listings, 19% more pending listings, and a 3% increase in homes sold. This trend indicates a shift toward a more balanced market, moving away from a strong seller's market, with more months of inventory available.

For buyers, this means more options and potential negotiation opportunities, such as rate buy-downs. Sellers, on the other hand, face more competition and need to price their homes strategically to attract buyers.

As summer draws to a close, we typically see an uptick in buyer demand. Buyers now have the upper hand with more choices and the ability to negotiate on rates and inspection items. Sellers should anticipate their homes being on the market for a few weeks and be prepared for buyer negotiations.
Despite these changes, there are plenty of opportunities in the market.

What could your home be worth? Visit - rem.ax/MyHomeValueCO to see your estimated home value!

Whether you're ready to sell or eager to buy, I'm here to guide you every step of the way. Let's chat and make your real estate goals a reality!
Kayla Maathuis, RE/MAX Conifer 303-507-2751 www.yourjourneyhome.net