Colorado Real Estate Market Update

If you’ve been paying attention to the real estate market recently you may have noticed that things have started to shift slightly.

Homes are no longer getting snatched up as soon as they hit the market with bidding wars, multiple cash offers, and selling for over asking price.

Inventory is rising, which is great for buyers. Now is the perfect time to circle back to those who were considering buying previously but hit pause when prices spiked and inventory dropped.

While interest rates have gone up from last year, we just saw a minor drop and they are still relatively low in comparison to what we’ve seen in the past.

According to usbank.com, today’s mortgage rates in Colorado (8/15/22) are 5.125% Rate and 5.202% APR1.

While what we are seeing may be trending towards a buyers market, it’s not all bad for sellers! Home values and prices still remain high.

Here’s a helpful graphic from the Colorado Association of Realtors:

The best way to describe our current market, and always, is that it is always changing.

If you’re considering buying a home in the Longmont/Boulder area, please reach out! I would love to work with you and help you find the perfect home for you.