Although Home-price appreciation is slowing in many large cities throughout the country, home prices in metro Denver are rising at an annual rate of 12 percent, according to a report by RealtyTrac. This high rate is up from an increase of 9 percent last year.
Colorado’s real estate market is being driven by an increase in jobs, and a population growth at about twice the national average. However, the state’s healthy economic performance and subsequent increased demand for homes has meant price increases that have created an affordability crisis in both for-sale and rental housing. In fact, in February, the number of metro Denver homes on the market hit a low of just 4,079, according to the Denver Metro Association of Realtors.
The red-hot market presents an exciting opportunity for home sellers, as homes priced under $400,000 are routinely generating multiple offers. “I have never seen such a limited inventory in the Denver market,” said real estate agent KiKi Cannon with Coldwell Banker Residential. “We have less than a month’s supply of homes on the market.”
Don’t miss out on this unique opportunity to sell your home – Contact us today.