The United States may be just one country, but not every state or city is one in the same, not even close! This is true of not only climate and accents, but also of housing and real estate markets. Every real estate market has its values and subtleties that can set it apart from just the next town over. If you’re buying or selling real estate you need to know about the local market, and here in Denver, that real estate market is a wild one. Let’s look at what you need to know about Denver real estate market.
What You Need to Know About the Denver Real Estate Market
Denver is a Hot Market
New residents to continue to flock to Denver for the hot job market and plentiful adventure. A new population demands housing and this has sent home prices soaring in Denver, which is now consistently in the top 5 of home value appreciation. With no signs that the population is decreasing anytime soon, home values continue to remain high.
But Inventory is Low
Home prices are surging, but the inventory is still relatively low in Denver. In fact, the month of July in 2016 saw only 7468 active listings for Denver. New construction in both rentals and homes continues to take place, but it doesn’t seem able to keep up with the current demand. This could possibly send home prices even higher.
What About Investing?
Despite the low inventory, Denver is still a great city for investing. It may take more work to find the correct type of property for a fix and flip or rental but once you do, the demand is so high that your future listing should go off the market in a heartbeat.
There’s no doubt that Denver is one of the hottest real estate markets in the United States, and while it may be changing subtlety, chances are it will remain hot for at least next couple of years. If you’re looking to know more about the Denver real estate market, make a call to Denver real estate professionals or take a look at online resources. With proper research you can be knowledgeable about the Denver real estate market yourself.