Now that we’ve reached the end of our stay-at-home orders here in Colorado, many people are wondering what the current condition of real estate is.
Pent-up buyer demand is primed to explode; even with virtual tours during quarantine, we were seeing multiple-offer scenarios left and right. Six months’ worth or more of inventory is considered a buyer’s market, while anything under six months is a seller’s market—we’re still firmly in a seller’s market. For homes priced at $500,000 or below, we only have roughly 2.5 months’ worth of inventory.
