Colorado, especially the Denver area, has seen a spike in home sales according to the Colorado Association of Realtors. The report states that first-quarter sales for Colorado have increased 16% since last year. This includes over 18,000 residential properties. This is evidence of what experts have been seeing for some time now: the Denver market is certainly recovering.

This number is reflective of more good news—homes are not only selling more quickly but with an increased value, and the statistics back this up. The average time a house is staying on the market is around 90 days, a little over a week faster than last year, and the median home price has increased by about $33,000, or 15%. In many of these cases, the seller is seeing their house sold at their listing price. In fact, the Colorado Association of Realtors has stated that some Colorado areas are seeing homes sold for almost 100% of what they were listed for. Not only are the national averages up as well, with Pending Home Sales increasing 7% in March from last year, but these trends are expected to continue.

You can see this increase in market activity within just the last month—median sales price in Denver for April was at $280,000, up from $268,200 in March. The Standard & Poor’s/Case-Shiller Home Price index has stated that prices have been increasing for the last 14 months.
So, why is Denver such a hot spot for housing recovery? The easy answer is that Denver is one of the most desired places to live. Another explanation is that commercial real estate in the Denver area is up as well—rents are up and vacancies are down, and the area is also seeing development of luxury commercial properties.

There are lots of other reasons why one would consider purchasing in Denver, including the beautiful views. With the Rocky Mountains nearby, the stunning mountain views in Denver are world renowned. And, not many people realize what great weather Denver has. Although you will have snowy winters, Denver actually sees more sunny days than San Diego. This creates lots of opportunities to enjoy the great outdoors, even if it’s from your front porch—many charming homes come with large porches, or you can even find several bungalow style homes with an open-air (but still easy to keep heat in) that allow you to enjoy the beautiful views and weather without even going outside. And don’t forget all that Denver has to offer outside the home—whether you’re after a recreational lifestyle, with many parks and outdoor activities to occupy yourself with, or you’re more of a shopper or a bar hopper, Denver has something to offer you.

If you are interested in listing your home or if you’re looking for Denver real estate for sale, consider using a PorchLight agent to help you find your dream home.

About PorchLight Real Estate: PorchLight Real Estate Group has the most experienced and knowledgeable Denver real estate agents in Colorado. For more information about homes for sale in Denver CO or specific neighborhood homes please visit www.porchlightgroup.com.

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