Real Estate in the Foothills Remains a Bright Spot
While the news is not so good in much of the world, real estate in the foothills remains a bright spot. Earlier this year when COVID hit, we could only do virtual showings and business dropped off. When Safer-at-Home guidelines were instituted, pent-up demand led to a very busy June & July.
Some factors that are driving the market are record-low interest rates (below 3%!) and Denver’s vibrant economy. Other, more subtle, factors include people’s desire to move to a smaller community, to have a home with an office or larger yard, or just to escape living conditions that feel too cramped where they currently live.
Denver’s market is experiencing an even greater shortage of homes to buy than the foothills. As of the end of June, Denver’s standing inventory was 7 times larger than ours, while its number of closings was 17 times larger--indicating that available homes are harder to find and prices are likely to rise faster in the near term.
Whatever the reason, if you don’t love where you live and want to investigate affordable living in a beautiful foothills community just a short drive from metropolitan Denver, let us know. We would be happy to help you make a change.