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Home prices in Denver area is soaring

REcolorado, the largest multiple listing service in Colorado reports that the average price for all homes sold last March was $387,547. Prices are 9% higher than March 2015, the average home price back then was $354,611.

Rental Property Management Companies in Denver Colorado say that as more people flock in Denver, the more the home prices increase. The average price of single-family homes and condos is $340,000, this is 8.975% higher compared to March 2015 and 4.6% higher from $325,000 last February.

Reports show that last month, there were 5,468 active listing which is still considered extremely low. It is slightly better, compared to February wherein there were only 4,986 listings.

The housing demand in Denver continues to soar partly because more people are moving in to Denver and because the mortgage rates continues to be near historic low levels even if Denver’s economy is one of the most robust in the country.

Kirby Slunaker, president and CEO of REcolorado emphasized that the continued low interest rates and the low supply of homes has made homes in the Denver area highly coveted. For people who are considering of putting their homes in the market, it’s high time to do so says Kirby Slunaker.

Source: www.denverrealestatewatch.com