As we head toward summer, Denver residential real estate is experiencing some heat. Colorado pool homes for sale, horse properties, golf course homes – all types of homes are selling fast. This Denver Post article of March 13, 2013, notes that the city is number 9 in the nation for “flash sales”—homes that go under contract within 24 hours of being listed. One Realtor marvels, “It’s a frenzy out there. . . . It’s one of the hottest sellers’ markets I’ve seen in the last 10 years.” Realtors all over Denver agree that it’s crazy, and likely to get more so into the summer. The latest S&P/Case-Shiller Home Price Index, that of February, 2013, stands at 133.90, compared to 121.81 for February of 2012.
Buyers have a fever, and it seems that the only cure is desirable Colorado property. Real-estate analyst Gary Bauer notes that sales of premiere homes—those priced from $500,000 to $749,000—leaped 65.3 percent in a year-over-year comparison of March 2013 to March 2012. Not only that, but sales in this price range rose 69.3 percent from February to March of this year.
Bauer also finds that the inventory of homes priced over $1 million is growing. April showed 451 homes in that price range listed in the Denver area, as opposed to 372 in March. He concludes, “If you can afford to go high, you might just go home with a house in Denver’s frenetic housing market.”
Experienced Realtor® J. David Lampe of Metro Denver Luxury Homes can help you keep a cool head in looking for the best home value in a hot market. Starting with an advanced MLS search, you can narrow down your choices to the homes that meet your criteria before ever setting foot in the area. Whether your criteria includes a pool, a nearby golf course, horse property, or a mountain view, David can notify you quickly of new listings, negotiate personably with the other party, and close a deal that leaves everyone happy.