It's official. We've been reporting the upward price trend for the past year and as of the latest Case-Shiller report, Denver homes have reached their all time high. If you have been paying attention o the market, than you are already aware of the severe shortage of available homes. This lack of inventory has caused major pain for buyers in the Denver market and has resulted in bidding wars and rapid price increases.
If you have been considering selling your home, you may be very surprised to learn what our team can sell it for. Give us a call at 303-817-0209 today and let us run a detailed report for your home and your neighborhood.
Full Details from The Denver Business Journal:
Denver-area home sales prices reached an all-time high level in May, finally topping previous highs attained seven years ago before the real estate bubble burst, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.
The widely followed gauge of home resale prices in 20 U.S. cities showed Denver-area prices were up 9.7 percent in May from a year earlier, the 17th consecutive year-over-year gain.
Denver’s Case-Shiller price index for May was 140.98, meaning that local home resale prices averaged 40.98 percent higher than they were in the benchmark month of January 2000.
The previous peak index reading for Denver was 140.28 in August 2006.
The market for Denver homes is highly competitive. If you are a buyer looking at homes, make sure you are working with a team of REALTORS who can help you with all of the available Denver foreclosures and resales on the market. Not all agents can show you all homes (Denver HUD homes have restrictions, etc), so give our highly trained team a call today!