Howâs the real estate market in Denver?
If you’re interested in buying a new home in Denver, consider researching the market to get the best price possible. The traditional American Dream has undergone serious change in the last decade, and now the modern consumer must learn to adapt in order to achieve facets that were once assumed.
However, the Denver market offers true opportunity for first-time homebuyers and those looking to expand or reduce. Whatever stage in your life you're at, real estate in Denver is varied enough to meet your needs.
According to Denver Real Estate Stats, there were 1,816 single-family detached homes available for sale in the area as of March 30, 2012 for the past seven days.
The median listing price was $260,000, while the average list price was $388,333. Prices are going up in the area, indicating a strengthening market that will be a boon for potential homebuyers looking for an investment. The National Association of Realtors (NAR) reports that the median sales price of existing single-family homes for the Denver-Aurora area was $219,900 in 2009, about $232,400 in 2010 and $231,400 in 2011. The progression in price not only indicates a strong market, with a slight dip in 2011, but that it is a good time to buy. If you are ready to buy, consider doing it before prices rise.
The average home size was 2,527 square feet with 3.45 bedrooms and 2.62 baths – ideal for the growing family in need of space. The average price per square foot was $131. A larger home can accommodate the wide variety of needs a family has. However, if you are looking to downsize due to an empty nest or are just in the need for a step-up from an apartment, the condo market is thriving and offers a more affordable option.
The median listing price is $234,200, while the average listing price was $359,447, according to Denver Real Estate Stats. Research the MLS listings in Denver and you can find a wide variety of spaces with over 1,310 in inventory the week ending on March 30, 2012. On average they spent 151 days on the market, which gives a potential buyer more power in price negotiations.
If you’re looking to buy, consider looking at the plentiful options in Denver.