Denver Housing Market On The Rise

By shaye • February 15th, 2010

Despite economic trends, the Denver housing market is recovering slowly but surely. Although much of the nation’s housing market continues to struggle, the Denver area has seen some significant gains in the past year and many believe that there is reason to be positive about the future of the housing market in Denver. According to the National Board of Realtors most recent report, which drew from current economic trends for the area, such as job growth, as well as historical real estate appreciation for the area, placed the Denver housing market among the top five cities in which to purchase a home.

Additionally, Zillow.com states that Metropolitan Denver Real Estate was the leader in the total dollar gain throughout the United States in 2009. The homes that saw the biggest gains in 2009 were homes in Indian Hills, Meridian, Thornton, Twin Lakes, Todd Creek, and Westminster.

Although Denver’s housing market has stabilized over the past few months and there are overall positive trends in real estate in the Denver area, sellers are still cautions and their homes are competing with a record number of foreclosed properties. While this fact hasn’t affected Denver luxury homes, owners of homes at lower price points are feeling this pressure. Right now, Denver has a months supply of homes ranging from seven to ten depending on what area you’re looking at. Six months of inventory is considered the equilibrium point where the market is not more advantageous for buyers or sellers. Therefore, Denver is currently in what is considered a buyer’s market. This means that the housing inventory is 17 percent lower than it was a year ago, and close to 2 percent lower than it was a month ago, which are good signs for a recovery and making this one of the best times in recent history to buy a home in the Denver real estate market. Interest rates are around 4.85%, and there is a great selection of homes on the market.

Given the current market conditions in the Denver area, now more than ever it is critical to select the right real estate agent to represent you. For sellers, choosing the right real estate agent means taking advantage of the market and capitalizing on their investment. Also for sellers, this could also mean the difference between accurately pricing their property from the start which could result in selling within weeks or having to wait months for a sale most likely at a lower price. For buyers, choosing the right real estate agent means making the right choice when buying a home in Denver. Real estate agents can help buyers recognize that not every area of the city is increasing in value, so what may seem like a good deal could be a poor choice in the long run. A home is one of the biggest investments for both buyers and sellers; therefore the use of an agent who is experienced and has a vast knowledge of the Denver housing market could be the difference between successfully buying or selling a property or making regrettable decisions that will affect your future.

If you are considering buying or selling a home in the Denver area, consider using the services of Very Nice Homes. The realtors at Very Nice Homes are licensed realtors in the State of Colorado who offer free services to buyers and full service and discounted commission plans to sellers. Very Nice Homes is a Metro Denver Colorado real estate firm that offers a daily updated database of over 30,000 local home listings.

Santosh Manjrekar is one of the founders of verynicehomes.com, along with his dedicated team of realtors, has been in the real estate business for over 20 years now. His long list of satisfied clients would vouch for the fact that they do indeed live up to their tag line, which reads ?we always find the nice ones’. He also provides great offers such as loans with very low interest rates. At verynicehomes, you not only get to see the photos of the houses in parker Colorado and other cities of Colorado on sale but you can also avail of a virtual tour!

 

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