We need more Denver Homes to sell.
House hunters are looking at a record-low supply of unsold homes. GMH By Design is here to help.
According to a report from June 3rd, there were only 5,463 Denver homes for sale in the last month. And we are heading into the summer selling season. The report comes from the Denver Metro Association of Realtors.
The Denver supply and demand is out of whack. This is creating an increase in Denver home prices.
To bring the Denver market back into balance there would need to be at least 1,500 homes for sell. That’s nearly three times the available inventory.
The past two years have been a sellers market. Even if the supply of homes for sale were to double it would help. This would allow home buyers some options. And sellers would still get the asking price for homes. There would still be price competition. But it would be moderate.
The average price for all homes has increased 4% since May. Single family home sell prices are $420,ooo up from $390,000.
These prices are edging the first-time home buyer out of the market. Unfortunately, condos and apartments are also very expensive.
So the answer is, build more homes. The problem is, in order to provide the above stated supply of new homes we’re talking about developers. And cookie-cutter homes.
Denver residents want more. And demand homes which are customized to their lifestyles.
This is where architects enter the equation. Architects are educated and trained to help homeowners realize their vision and dreams. In some cases, you might find a Design Build firm that can design and construct your home.
The best answer to the lack of Denver homes for sale, is hiring an architect.
If we continue the building trend with developers, the housing prices will continue to be inflated.
What are your thoughts? Can we help you with a free consultation? Give us a call 303.868.1808.