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7 Reasons For Average Home Price Increase To 390K
The average price of a home in metro Denver increased to $390,067 in February, up from $326,958 in February 2014.
The increase of 19 percent year-over-year includes both single-family houses and condominiums, according to the latest data from the Denver Metro Association of Realtors.
Average prices were likely impacted by continued strong demand in the housing market, including the luxury market of homes priced at $1 million and above, 84 of which sold in January and February in the metro area, compared with 56 for the same period last year, a 50 percent increase.
We’re seeing that buyers are becoming more confident and are willing to pay a little more for the home, and Sellers are also becoming more confident and they're willing to put their home on the market and are able to break even or walk away with some funds to purchase another home.
The value of houses is going up so it’s a good time to sell and still a good time to get in on a decent buy as well.
Income is stabilizing, the economy is stabilizing, and so buyers and sellers are becoming more comfortable in the market.
We see a lot of people moving in here for colleges and universities, since Colorado has a variety of great schools to offer to students from all over the world.
A larger retirement community moving in here because we have such a wonderful place to live. Weather doesn’t get much better than in Colorado. With more than 300 sunny days a year, it is a great opportunity for retirees to play a round of golf almost any time of year!
We’re also seeing an influx of professionals with the hospitals growth coming to Colorado; we have some of the best adult as well as children’s hospitals that a lot of medical professionals are eager to work in.
Denver Co Real Estate- Luba Jeltov
I specialize in Denver Colorado and surrounding communities of metro Denver area. If you are selling your home I will make sure you get TOP dollar. If you are looking to purchase a home I will make sure that you get the best deal possible. Please contact me directly via phone or text at 303-817-6818.
Exit Realty Chery Creek
As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....