Metrolist has released new data(via the Denver Post) showing that the median home prises have risen 15% over the past 12 months. Try and look past the major typo (the author lists last year as 2008).
What is even more revealing is the number of homes on the market over the past 2 years. The market inventory fell from 26,000 homes on the market to just over 16,000 last month. Keep this in mind when you read about the “glut of unsold homes on the market.”
So many of the buyers we work with are discouraged when they start to look for a home and expext hundreds to choose from. It’s simply not the case. Usually there are only a hndful in any given area and the good homes move very quickly.
All in all, this is great news if you are looking to buy a home in the Denver area. Keep inmind, there are still good deals on Denver Bank Owned Homes to find.
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