Many homeowners are selling and experiencing multiple offers on their homes, which is also driving up prices.
Denver, CO (PRWEB) April 18, 2016
Denver was named the No. 1 housing market in the country for 2016, which has made the Mile High City a seller’s dream. “Many homeowners are selling and experiencing multiple offers on their homes, which is also driving up prices,” said RE/MAX Masters Millennium Realtor Beth Davis. “However, there is precious little inventory, coupled with a plethora of buyers looking for homes, making this an ideal seller’s market.”
In fact, according to the March 2, 2016, Denver Metro Association of Realtors article, February closed out with a historic low of just 3,963 active listings, representing a 6% decrease in inventory over the previous month. Additionally, the median sold price was $330,000, a 3.42% increase.
One of the main factors spurring the hot real estate market is Colorado’s population growth. The state added approximately 101,000 people to its population last year, but this has made it difficult for buyers to find a home because of the dearth of housing.
“Buyers are getting aggressive and home prices are soaring,” said Davis. “However, it’s great for sellers.”
About Beth Davis, RE/MAX Masters Millennium
Beth Davis services Greenwood Village, Centennial, Highlands Ranch, Aurora, Parker, Denver, Littleton and Castle Rock, CO. For more information, call Beth at (303) 517-3020, or visit http://www.bethdavishome.com. The office is located at 6020 Greenwood Plaza Blvd., Suite 100, Greenwood Village, CO.
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