Denver real estate a HOT market?

From the first publication: In the last 7 days about 1350 homes have come on the market.
1560 have gone under contract. Yes property sales in Denver are going to be crazy again this year.

Updated 1/12/2017: In the last 7 days about 819 homes have come on the market.
1083 have gone under contract. Yes property sales in Denver are going to be crazy again this year.

And what about those folks who say it is too late? The trends say: More houses are selling, days on the market are the same, Fewer new listings, and median prices are up 10% over last year throughout Denver. The three that are most important to me are the Year To Date SOLD, Denver Real Estatethe Active Listing count, and the days on the market. They all would combine to push prices higher in Denver.

The question always seems to be “How Much Longer will this last for Denver?” To me with my limited scope it appears that another 2 years is likely. That would be a 20% increase in the value of a home you bought today if the above trends hold true. We simply need to see more houses on the market and fewer buyers…which brings us to the why?

Colorado is a net 75,000 people growth per year state (about 15% for mj). Denver and the front range get most of them. That requires about 20,000 living units and that is the simplest explanation I know. When the market tanked the builders quit building, but we did not stop having babies. And those kids are now buying houses too. Why so many people moving here? Unemployment is low so it is easier to find good work. And how about those mountains west of Denver? You know why you live here.

 

 

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About Pete Doty

As a Realtor® Pete has been working in the Denver residential market since he first started in 1985, and focusing primarily in the south end of town. He finds the client the home they want, and then help them sell it when they want to move. Marketing is really where his heart is, and making sure his clients’ interests are watched over in Littleton, Highlands Ranch, Parker, Castle Rock, Centennial, Englewood, Morrison or Denver. His web site www.DenverRelocation.com ranks high in search rankings and generates numerous relocating buyers each year. Talk to Pete for a unique perspective on today’s real estate market in Denver.

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