Single-family home prices in Denver rise
The figures are in and houses for sale in Denver were sold in March at higher prices than in February 2012, according to Inside Real Estate News. Single-family home prices rose by 5 percent on a month-to-month and year-to-year basis.
Not only are homes being sold at higher prices, but there is also a limited inventory of unsold homes of only 10,325 – down 47.7 percent than the estimated 17,700 in March 2011.
"It’s a very good market," Gary Bauer, a local real estate expert, told the news source. "There is pent-up demand in the market and brokers are increasingly seeing multiple offers on homes."
Potential homebuyers combing through the metro area for a home may wish to consider keeping an eye on the MLS listings in Denver. On average, homes sold in March stayed on the market for 101 days – two days less than the nation’s monthly average for this metric. Buyers may need to quicken the draw on making an offer for a property, as more and more people are tempted to enter the market due to lower mortgage rates and falling prices.