The numbers just came out through July of 2009 and there’s a couple of key points that you should know whether you’re a buyer or a seller. These are important, relative to selling your home or finding the right home to purchase.

The first important fact is that we have dropped below 5 months of inventory on the market.  There’s about 20,000 properties between detached single family homes, condos and town homes that make up this amount of inventory. Importantly, there’s a little over 4,000 homes a month that are selling right now. Meaning, if no other homes were listed today, it would take about a little under 5 months to clear out all of our inventory.

Obviously, that’s a moving number and moving target because there’s always more homes listed and more homes sold. It’s very fluid. But the significance of this number is that the National Association of Realtors says that, ‘Over 6 months of inventory is a buyer’s market, under 6 months of inventory, is a seller’s market.’

Now I don’t want to get you too excited as a seller because one of the reasons the inventory is down so much is there’s a lot less foreclosures on the market. I’ll explain that at another time. What’s important to know right now is that inventory is down, mortgage rates are still down and actually dropped a little bit in the past couple of weeks and the home buyers out there, if they’re first time buyers, still can take advantage of the first time home buyer tax credit.

With over 20,000 listings to choose from, it’s important that you find the listings that meet your criteria and that you’re able to act quickly in order to make offers and purchase the properties that you want. I can’t tell you how many times in the past month that we’ve run into competitive offers for our buyers, and even for our sellers, when they list a home in a hot neighborhood that’s priced right.

To sort through all of this, I have lots of tools and services available for both buyers and sellers. For buyers, you should visit, www.EasyDenverHomeSearch.com, to start searching for your home today, and sign up for the E-mail alert service that will get you all the new listings first thing in the morning or whenever during the day you’d like to see them.

For sellers, visit, www.SamWilsonGroup.com, to see some of my tools and advertising mechanisms to market your home, to get it sold quickly and attract only the most serious buyers. With the market changing almost every week and definitely every month, I also offer free consultation services either for a buyer or a seller. I’ll give you a 1-hour free consultation to help you determine the best way to market your home or the best way to find and purchase a home in the Denver Metro Area.

Contact me directly 303-526-2606 or email me at Sam [at] SamWilsonGroup.com and we’ll set up an appointment to help you sort through this quickly in the rapidly changing market.

Until next time