The Denver real estate market is very seasonal. Denver homes generally sell for less in the winter and more in the spring and summer months. It’s not that Denver homes become worth less during the cold months–there are just fewer buyers.
The pool of Buyers plummets a little during the winter months, likely due to a combination of people not wanting to move in the snow, and family priorities such as school.
As the following graph illustrates, showings tend to peak in early summer and slow down as the year goes on:
The decrease in showings means that homes which would otherwise obtain multiple offers in April, are sitting on the market longer in December. With less buyers competing for the same properties, the notorious Denver bidding wars witnessed these past few years become less common.
For sellers who have the opportunity to time the market, waiting for the snow to melt can make a significant change in what they net from their home sale.
For buyers looking for a great deal, donning boots and coats to go home shopping in November can mean finding a dream home without the difficult competition of competing offers. So while a “steal” is not necessarily realistic in Denver’s current market, being able to offer on homes without 5-10 competing offers can save the savvy buyer time and money. As long as they don’t mind moving in the cold.