How's The CO Real Estate Market? It Depends Who's Asking.
What is the true answer to the always asked question to real estate agents: "How is the market?"
The most accurate answer we can give is: "It depends."
What that means is, the state of the market varies greatly depending upon the situation of the person asking the question. If you are a renter, and you are going to have to negotiate a lease soon in our valley, you could be in a difficult position since there are not many rentals, and the rates have continued to escalate.
If you are a renter looking to buy, although the prices have escalated in the recent past, they are starting to soften now and you might be able to find something that has payments no higher, and maybe lower than the new rental rates.
If you are a seller, the market has been excellent, since in the recent past the prices have been escalating, generally speaking.
If you are a buyer, with a home to sell, the market is fine, because you may pay more for your next home, but your current home is probably worth more than it has ever been worth in the past.
If you are a buyer, that is ready to buy, and has nothing to sell, then your advantage is you can make a clean offer on a new listing, without the difficult tangle of having to sell first.
So you can see, it really depends on your situation and the day to day changes in market pricing.
We highly suggest making an appointment with one of our professional brokers on Team Black Bear to discuss your unique situation, just so you will know "How the market is for you!"