Despite economic trends, the Denver housing market is slowly but surely recovering. While much of the nation’s housing market continues to struggle, the Denver area has seen some significant gains in the past year and many believe there is reason to be positive about the future of the Denver housing market. According to the most recent report from the National Board of Realtors, which was based on current economic trends for the area, such as job growth, as well as the historical appreciation of real estate in the area, it placed the Denver real estate market among the top five cities in which to buy a home.
In addition, Zillow.com claims that Metropolitan Denver Real Estate was the leader in total dollar earnings in the United States in 2009. The homes with the highest earnings in 2009 were homes in Indian Hills, Meridian, Thornton, Twin Lakes, Todd Creek and Westminster.
Although the Denver housing market has stabilized in recent months and there are general positive trends in real estate in the Denver area, sellers remain cautious and their homes compete with a record number of foreclosed properties. While this has not affected Denver luxury homes, lower priced homeowners are feeling this pressure. Right now, Denver has a one-month supply of homes that ranges from seven to ten, depending on the area you’re looking at. Click here to get a cash offer. Six months of inventory is considered the breakeven point where the market is no more advantageous to buyers or sellers. Therefore, Denver is currently in what is considered a buyer’s market. This means that the housing inventory is 17 percent lower than a year ago, and about 2 percent lower than a month ago, which are good signs for a recovery and make this one of the best times. from recent history to buy. a house on the Denver real estate market. Interest rates are around 4.85% and there is a large selection of homes on the market.
Given the current market conditions in the Denver area, it is critical now more than ever to select the right real estate agent to represent you. For sellers, choosing the right realtor means tapping the market and capitalizing on your investment. For sellers too, this could also mean the difference between accurately pricing your property up front, which could result in selling in a few weeks, or having to wait months for a sale, probably at a lower price. For buyers, choosing the right real estate agent means making the right decision when buying a home in Denver. Real estate agents can help buyers recognize that not all areas of the city are increasing in value, so what may seem like a good deal could be a poor choice in the long run. A home is one of the biggest investments for both buyers and sellers; therefore, using an agent who has experience and extensive knowledge of the Denver real estate market could be the difference between successfully buying or selling a property or making unfortunate decisions that will affect your future.
