Firestone, Colorado, is now the time to buy?

Pricing is the always a lagging indicator in real estate.  Buyers buy emotionally and justify logically.  Firestone is beginning to show sign that it may be time to buy.  Price per a square foot over the past couple years have been decreasing in Firestone as represented by the graph below.  Since prices have declined for and extended time Sellers recognize that their home may have decreased in value and are at a point where they are open to offers.  We are at a point where Buyer and Seller expectations are in alignment.

The actual market dynamics show a different story.  We have seen an increase in demand.  In fact our absorption rate is getting very close to 25%, which means we are shifting to a market with a lack of supply.  It will take the market time to recognize this fact and react, but buyers now may be getting the benefit of lower prices with market dynamics putting upward pressure on prices in the future.

If you have questions about the Firestone Market or any market along the Front Range of Colorado be sure to shoot us a call.  We know the market and sometimes how the market feels is not in line with what is truly taking place.  Time to go I need to start looking at buying a rental in Firestone I like what I see.