Typically, the number of Denver homes for sale decreases in October, picking up again in January. However, this year, sales in October jumped up nearly 4% from September and an incredible 28% from October 2011! This increase in sales comes as inventory continues to remain down over 30% from 2011. This is causing buyers issues for buyers as many are struggling to find homes that meet their needs – especially in the under $350,000 market.
With the huge increase in sold homes, the inventory is continuing to shrink and we foresee prices on Denver homes for sale continuing to rise. If you are thinking of buying, now is the time to move. Rates are at historic lows, but prices look to be headed for a continued rise.
If you are thinking of selling your home, give us a call to see what the market is like in your particular neighborhood: 303-817-0209
|% Change vs|
|May 2011||Prior Month||Year Ago|
|Single Family (Res + Cond)|
|Avg Sold Price||$278,438||-1.37||13.401|
|“Based on information from Metrolist®, Inc. for the period October 2011 through October 2012
This representation is based in whole or in part on content supplied by Metrolist®, Inc. Metrolist®, Inc. does not guarantee nor is it in any way responsible for its accuracy. Content maintained by Metrolist®, Inc. may not reflect all real estate activity in the market.
One other note: the market for Denver foreclosures has changed dramatically over the last year. The number of Denver foreclosures in Denver HUD homes on the market is substantially lower than 2011 and we continue to see bidding wars for most properties. If you are interested in learning more about Denver foreclosures and how they are affected by the changing market, call our team at 303–726–1874.