The Denver Real Estate Market has started out with a bang in 2015. We are continuing to sell more homes than we are putting on the market.
We are still record low inventory levels in the Denver Metro Area. February 2015 we had approximately 5,000 houses on the market. A year ago February we had around 6,000 houses on the market.
Houses under $300,000 are receiving multiple offers within the first day or weekend of being on the market depending on the neighborhood. Rents continue to grow, therefore it makes sense for investors to build their rental property portfolio. It makes it harder for first time homebuyers to compete.
With interest rates so low, not enough homes for sale, we are seeing bidding wars pushing prices up 5% in one month. This is a big increase!!
We are in a perfect storm for people who want to sell and move up. Buying in the
Home builders are building like crazy but it isn’t fast enough. Condos building is still on hold for most of the big builders until the Construction Defects Laws change. It isn’t looking good for 2015 for condos, but hopefully they can find middle ground so that the builders will stop building apartment buildings in the city and start building condos again.
East West Partners will be building townhouses soon (summer 2015) in Lowry. If you are interested in that please let me know I will put you on our presale list that will keep you informed as to what is happening. As soon as I can release details, I will write about them of course.
Let me know how I can help you with your real estate needs. If you are curious, you can set up and save a search by neighborhood, or by a price range and or other requirements right here on this site. Your searches will be private and will update you daily (or weekly) if there are any changes in your parameters. When you get serious about buying or selling, I’d love to talk to you and make a plan of action to get you where you want to be.