How hot is the Denver Real Estate market right now? I havebeen saying it for the past three or four months and feel like I'm starting tosound like a broken record. But it is true, the Denver Real Estate market is onfire and in an article in the Denver Post today, hard numbers are out whichhelp to back up my recent blog posts.
According to the article, Denver is second in the countryfor days on market. With an average of 33 days, we are well below the nationalaverage of 89 days. And a major reason they are going so quickly is a lack ofinventory while demand has spiked. œUnsoldhomes on the market totaled 10,325 in March, a 42 percent drop from March 2011.
As an example, I listed a condo on 13th and Speerlast week. Two years ago we had it on the market for $210,000 and it sat formonths with no interest. In less than a week this time around, we are undercontract after receiving multiple offers with an asking price of $225,000.Needless to say, it is a seller's market.
Of course this is not all bad news for buyers. These statscertainly provide a piece of mind that you are buying at a good time when themarket has a very strong potential to do nothing but go up, common concern thatwas voiced just last year. And potential sellers, please tell me you arehearing this and get your house on the market. To read the full article, click here.
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