The Denver housing market is still at record lows as seen in the Metrolist MLS chart below.
Driving through Denver Metro Neighborhoods is a totally different sight than it used to be. With the Denver Housing market still at record lows I bet you have noticed that there are very few for sale signs now compared to 2009. Instead of seeing for sale signs in every yard now you are lucky to see one on every street.
Note: Last year I told buyers that I worked with and especially investors that anyone who bought property in 2010 and 2011 would come out smelling like roses since I completely felt the market turning upward at that time. Hindsight is proving me right and if our market now is an indication of next year then I believe prices will be even higher by the Fall of 2013.
The active single family homes on the market at the end of August was 32.57% below what it was just one year ago.
Active condos are down 44.73% from one year ago.
An eye opening number is the average sales price for a single family home is now $311,893. That is up 9.80
As we all know this week the government stepped in AGAIN and started QE3. This should hold interest rates low for another 12 months or so. Many real estate market watchers believe that the market should hold strong through the end of at least next year.
Other Real Estate Market Reports by Steven Beam