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Denver Real Estate Market Statistics for the First Quarter of 2015

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It is already can’t believe the first quarter of 2015 is gone. I feel like I haven’t kept in touch so I want to give you a quick update on what is happening in my world.

I moved to Slifer, Smith & Frampton at the end of the year. I am thrilled to have an office in Riverfront Park, if you aren’t familiar; we are just west of Union Station at the west base of the Millennium Bridge. It is only 3 miles from my house and so central it has been easy to meet clients. We have been having a lot of fun this quarter, I have more buyers this year than listings which is a slight change but that is reflective of the market. I do have a 6 bedroom Cherry Hills home coming up in next month, and a 2 bedroom townhouse in southeast Denver the month after and a few other sellers who are contemplating making a move up. Sometime in July our team will have 36 brand new townhouses available to purchase in Lowry. We are constantly sharing listings with each other prior to them going on the market so if you are thinking of buying or selling let me know, we have put together some amazing seamless deals within our office making buyers and sellers extremely happy.

The Denver Real Estate Market is pretty amazing right now. You see the headlines I’m sure, we are number one for prices rising, which is what makes everyone nervous. Our under $300,000 market continues to sell faster than any other price range but the over $500,000 market started moving quickly this past month and our inventory continues to shrink. We started the year with 5,352 homes and condos for sale. We currently have 4, 112 for sale. April is the month historically that we would see people starting to get their houses on the market and I hope we start seeing them soon.

Interest rates are still so low and the Fed continues to tell us they will go up, which we know they have to at some point. The low interest rates are making it possible for people to move up into the next price range. To take equity out of the house they are in when they sell and buy the next size and price up with the lower interest rate then they have been paying.  Once the rates go up, I think our prices will flatten out, but I hesitate to say that because we have so many people moving here, if we don’t have enough houses for sale, that might not happen. If you are thinking of buying, pay attention to the rates, it will affect your buying power, I would be happy to talk to you more about that one on one. Today they are at 3 and ¾, incredible!!

Hope to see you soon!

Amy Cesario

 

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