We continue to see every report on prices for Denver Homes showing significant improvement. The latest report comes from S&P/Case Shiller and is highlighted in today’s Denver Business Journal.
This report shows that prices on Denver homes rose 7.8 percent in November 2012 when compared to November of 2011. THis increase marks the 11th straight month of continued year-over-year price increases.
These numbers include all of the sales for the Denver area, including Denver foreclosures and Denver short sales.
From the Denver Business Journal:
Denver area home prices rose 7.8 percent in November 2012 from a year earlier, the metro area’s biggest year-over-year price gain since before the recession, according to the latest S&P/Case-Shiller Home Prices Index, released Tuesday.
It was the 11th straight month of year-over-year price gains in metro Denver, according to data from the closely followed real estate report series from Standard & Poor’s.
Local home prices in November were at their highest level since October 2007, according to historic data from the report series.
With the housing inventory incredibly low, hopefully these increased prices will spur sellers to list their homes for sale. Our team has buyers ready to pounce as new listings hit the market and demand is getting stronger everyday.
If you are interested in learning more about selling your home and how these price increases impact you, give us a call at 303-817-0209. You might be surprised what your home can sell for.
For those of you considering buying a home, make sure you have an agent that can respond quickly and can show you homes the day they hit the market. Denver short sales and Denver foreclosures are moving quickly and usually these homes create multiple buyer/bidding situations.