Activity in Denver Metro

Realtor · Denver, CO · Member since 2015 · 24 posts · 16 votes

Hey, BP Universe!

I'm curious what others are experiencing in the Denver metro area currently? I am hearing from many fellow agents/sellers that their listings are hardly getting showings. I have a listing in Aurora currently that is getting Open House traffic, but very few agent showings. It seems like there are still some hot pockets in particular neighborhoods.

How are typical long-term rentals doing with turnover? Are you guys seeing any declines with people applying for rentals as well, or is that still holding steady?

Thanks all!

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Greg WeikBusiness Member
Property Manager · Denver, CO · Member since 2020 · 264 posts · 327 votes
1y
Hi @Kerri Shaffer, long-term rentals are doing well. Prices are mostly stable, and in some areas slightly up year-over-year.
We are experiencing high demand for our competitively priced units. Attractive units (SFRs in the suburbs) typically rent in 1-2 weeks.
Also re: long-term rentals: many buyers are sitting out this year and renting, which means we have even more 800 credit score applicants to choose from.
The sales market is at a standstill. Many of our new clients this year have been frustrated sellers who have given up on endless (pointless) open houses and who know renting their property will at least bring in revenue.
Over time, many of those reluctant landlords will become excited landlords and even buy additional rentals.
Selling is cash today. Renting is wealth for the future.
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