Denver Highrise living includes buildings favorable to short term rental (STR) rule changes in 2024. Mason Hayutin, REALTOR/Broker Associate of MASONmodern/Keller Williams provides insight to past experiences in Denver’s urban core.
Interest rates over 7.25% have started to sideline buyers – except for those in immediate need of a specific neighborhood or community. Denver’s market remains competitive as supply is tight. Cash indeed has become the ideal for both buyer and seller.
Denver’s supply is on par with the 10 year average. A balanced market would require at least 15000 homes vs. today’s 7000 available options. Located in Cherry Creek North, buyer’s have approximately 28 various options starting at $750,000.
Fed tightening puts a reality check on the speculating real estate buyer. Essential moves sustain the overall market. The skilled labor shortage remains the key challenge to the Fed’s success with inflation.