At the beginning of 2020, everything was looking positive on the Front Range real estate market. 2019 was a record-setting year of real estate sales, and 2020 looked to be a continuation of that.
Then COVID19 surfaced.
Most of us remember the day the COVID19 disruption began for them. Unlike other industries, real estate often involves a necessary move (family, jobs, etc). Because of this, our industry pivoted quickly and the disruption was not as bad we’ve seen in other areas.
Unfortunately, COVID is still looming. We’re also in the middle of 2020, so it’s a good time to reflect on what has happened in the past six months of our local real estate market. I will say that things are much better than they were a few months ago, and in some ways real estate activity is as robust as ever.
With that, let’s dive into some data (derived from IRES MLS and REColorado MLS).
A quick analysis of the Year-over-Year sales data shows us that the market is slightly down in 2020, but not by much. A big reason for this is the quick rebound in the market sales in June 2020. Based on current pending sales, July 2020 may have the highest volume and number of transactions ever recorded in Colorado. The market is adjusting back to normal!
At 8z Real Estate, we have been advising sellers and buyers through many different real estate markets. We have the best marketing tools and plans for sellers to net the best sales price in the shortest amount of time. We also have contract drafting strategies for buyers to be in the best position for contract acceptance. I’m a full time real estate agent with the best backed company I could ask for. I’m here to help you, and welcome the opportunity.
As we continue to endure the COVID19 pandemic, there may be members of the 8z Collective that need help. The 8z4Life fund was created to provide support for those facing financial challenges, and we’re thrilled to have provided 30 grants to date, totaling $59,898 in Mortgage Relief for those who need it most.
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