Denver housing market breaks average home sale record — again – Denver Business Journal

DENVER (CBS4) – A new report shows just how hot the housing market is in Denver. Online real estate company, Redfin, shows homes are selling on average 19 days after listing. (credit: CBS) It.

Denver real estate market Forecasts 2019 & 2020. According to real estate information company named Zillow, Denver is a neutral real estate market. The median home value in Denver is $427,300. Denver home values have gone up 5.0% over the past year and their Denver real estate market prediction is that the prices will rise 3.6% in 2020.

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Denver’s housing market has been booming the last few years. Even though things have cooled off some it is still typical for homes to sell within 30 to 60 days of hitting the market. This is thanks to Colorado being a fast growing state, where there has been an increase of over 100,000 people over the last few years.

for April 2015 MLS Statistics – Download the Press Release – "Denver’s sub-$300,000 real estate market is blistering-hot this spring! As pent-up demand for housing in this price range continues to outpace the inventory of available homes, the term "seller protection" has made its way into the vocabulary.

The gap between the ideal wage for a comfortable living and the actual median wage in Denver is large compared to other major cities.

Average days on market for a Metro Denver, Colorado home for sale. At 21 days the average days on market for Denver real estate is 2 days less than April 2016 and is 6 days less than March 2017. The average days on market was 13 days or less for everything under $400,000. The highest days on market was in the $1.25 million – $1.5 million price.

"With average sales prices reaching all-time highs and inventory levels dropping to levels lower than we’ve seen in a decade, 2014 was a record-breaking year for the Denver area housing market," said Kirby Slunaker, president and CEO of REcolorado.

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In June, the average sale price increased to $454,880 – an all-time high, the first time on record that the average home price reached above $450,000. REcolorado released its monthly report for the Denver Metro Housing Market in June 2017 , which outlines the increasing average home sale price among other real estate trends.

House dream of first-time buyers slips further away About the Author: The above article on 5 Things First-Time Home Buyers Should Do First was written and provided by Dustin Brohm, a leader in the field of Real Estate sales, marketing, and smart home technology.Dustin can be reached via email at [email protected] or by phone at 801-455-8753. . Dustin has helped many people buy and sell Salt Lake City area homes for y