Some more great news for Denver homes came out today. According to the latest report from S&P/Case-Schiller, Denver posted it’s 5th straight month of year over year increased home prices.
This parallels all of the reports we’ve been seeing for the past 6 months and is what we have predicted to happen due to the decreased home inventory on the market.
This report details only Single Family Denver homes and does not include Denver condos. It is also not mentioned in the article how the sales of Denver foreclosures or Denver HUD homes was factored in. You can read the entire article at The Denver Business Journal’s site:
For the fifth straight month, metro Denver posted a year-over-year increase in home prices in May, at a pace that eclipsed all but three of the nation’s 20 largest markets, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.
Denver’s five consecutive months of year-over-year price gains followed 18 months of declines, according to the closely-followed monthly report on average home-resale prices from Standard & Poor’s.
Denver prices were up 3.7 percent in May from the same month of 2011, the Case-Shiller report said. That followed year-over-year gains of 2.8 percent in April, 2.6 percent in March, 0.5 percent in February and 0.2 percent in January.
The market has been incredibly hot for buyers looking in the sub $500,000 market all year. If you are considering a specific area, make sure you contact us to receive a detailed report for the area as well as have us set you up on a daily alert for active listings in the neighborhood. the best homes are staying on the market only a day or two, so it is important you know about the home as soon as it hits the market.
This urgency is even more apparent in the market for Denver foreclosures. Certain areas can see several bidders for each home and sales prices tens of thousands of dollars over list price. These foreclosures are targeted by both potential owner occupants as well as bueyrs looking for Denver Investment Properties. Call us today at 303-726-1874 to get set up in our system so you don’t miss the best deals!