Every month, Metrolist compiles a 10-City Report for Denver Metro area detailing current market conditions.
The recent report comparing data from this February to February 2012 shows that inventory of homes for sale in Denver is down 40.6% (2441 in February 2012 vs. 1449 in February 2013), sales are up 18% (616 in 2012 vs. 727 thi sFebruary) and average sold price is up 18.5% (current average price sold is $294,338).
Year-to-date levels of new listings are down 3.2% and sold listings are up 14.2% – this is an excellent time to sell your home and move up or down – rates are still unbelievably low and are only expected to increase this year, probably to never return to these lows. The housing market is strong and picking up more momentum. Data shows that our nation needs 16 million new units annually to meet the housing demand; in recent years we were not even close to produce this many housing units.
Statistics show that an average homeowner in US moves every 4.7 years and that right now homeowners have been in their homes on for 9 years on average – this could be a perfect time for you to move. Give me a call, I can help!