Whenever I see Denver Real Estate mentioned in the national media it immediately catches my eye, especially when the story delivers more positive news about the Denver market. The latest report I saw on Forbes.com, click here, shows that average asking price for a Denver home has increased the 5th most nationwide. According to the data from Trulia.com, the average asking price in Denver has increased 8.6% from this time last year.
While this doesn't mean that the average home has appreciated 8.6% since this time last year, keep in mind this is the asking price, not the final sales price, the data is still very encouraging. If you reference a blog I did a few weeks back, click here, you will see that the average days on market for a Denver home is right around 33 days making it the second fastest selling Real Estate market in the country. And when homes are moving that quickly, seller's aren't coming off their asking price by very much if any.
So in terms of the strength of the Denver market and where prices are heading, combining this data should be very encouraging to Denver homeowners and prospective homeowners. By looking at the chart above, you can tell that asking prices continue to climb. It certainly is better to buy when prices are going up than when they are going down, and to buy near the bottom than near the top. While I think the bottom is gone, we definitely haven't seen the top so if you are thinking about buying, now is the time before those asking prices really start to go up.
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