Going into 2020 it looks like we have a very solid economy. We have very low Inflation; our unemployment rate is at incredibly low numbers. Our interest rates continue to hold steady at near historic lows and Mortgage money is readily available in the marketplace. It’s early January and with only six active listings, we’re seeing inventory levels as low as I’ve seen them for the 12 years, I’ve been selling real estate in the Solterra neighborhood.
The appreciation rates have slowed down along the front Range and in Solterra as well. As you can see, the housing prices have been increasing for some time now. Our biggest issue currently is affordability. It’s gotten expensive to live in Solterra and surrounding areas and the market has priced out a lot of buyers in the marketplace. However, we are still seeing a massive migration into the metro area and the predictions are that will not change for years to come. The word is out, Colorado is a great place to Live.
There has been some talk about a recession, however, given the state of the economy with the low inflation, the low housing inventory, and low unemployment numbers, it’s unlikely that will see a recession for years to come.
If you’re thinking that you would like to make a move this year, my recommendation is to get it done before all the inventory comes on the market in late spring to Summer. I really like the early spring market for sellers getting the most money for your house because you don’t have as much competition which tends to put pressure on pricing. If that timeframe doesn’t work for you, hold out till late summer or early fall as that is another excellent window to get top dollar for your house.
The late fall, early winter market is the most challenging market for selling your house because by that time, most of the buyers have purchased during the year and the pool of buyers has diminished.
So, if you’re looking for some expertise from your trusted Solterra Realtor please feel free to reach out to me.
Nagel & Co./Re/Max of Cherry Creek