The housing market doesn’t show any signs of cooling in the Mile High City as, to the dismay of many buyers, we set two records last month: record-high home prices and record low average days on
Home Appreciation In Denver Continues To Rise
Denver homes continue to appreciate in value and, according to a recent study, it’s not showing any signs of slowing anytime soon. At least according to California-based Veros Real Estate Solutions, which estimates that Denver-area homes will appreciate 10.3 percent over the next 12 months. That’s only second behind only Seattle's expected 11.1 percent appreciation.
And the appreciation isn’t just limited to Denver. According to Veros, Fort Collins-Loveland's appreciation rate is 8.1 percent or No. 8 in the country, and Greeley is No. 12 at 8 percent.
One of the driving factors for our continued appreciation? Inventory. Veros said that Denver continues to show a tightening of home supplies at a meager 1.1 months. Combined with an unemployment rate of an extremely low 2.1 percent and rapid population growth, this is one of the forecast strongest markets in the country.
Nationally, homes are expected to appreciate 3.7 percent in the next year, according to Veros, but Seattle and Denver again show no signs of letting up as the top markets.
One of the ways buyers in the Denver metro area are expanding their options for affordable housing is by including distressed properties in their search. While you may have heard buying a foreclosure, short sale, or bank-owned property is challenging, it’s really not all that different than tradition sales.
If you’re interested in taking a look at what Denver has to offer in the way of distressed properties, contact Metrowest. We specialize in this type of sale and would love to help you start the process!
Raymond Gonzales is real estate broker with Mertowest Real Estate Services, a Colorado based real estate brokerage serving the Denver metro area. Raymond is a Colorado native, born and raised in Arvad....