Denver Real Estate Market Update April 30, 2012Posted by Doug Smith on Wednesday, May 9th, 2012 at 11:06am.
Denver Real Estate Market Update April 30, 2012
Chart above courtesy of Garold D Bauer a numbers guru for Denver Real Estate.
The Denver Real Estate Market has been quite strong for the first four months of 2012. In April of 2012 5,681 properties are under contract compared to 4,749 last year, this is an increase of 19%. When we combine this demand with a reduction in inventory of 42% we are certainly seeing some inventory challenges and Buyers are having to move quick.
We have also seen the average price and median prices rising, which indicates we are seeing some strength of sales moving up the food chain. Real Estate tends to be a self fulfilling prophecy and the press reports on sales so tends to lag the actual market conditions. If we look at April under contracts above being up 19% it means the news for May and June is going to report strong year over year numbers. This news will increase buyer confidence and the cycle will continue positive press positive under contracts and so on. If the job market begins to strengthen the cycle should pick up speed.
The numbers are great above, but should not be misconstrued. Yes, the Denver Real Estate market is the strongest it has been in sometime, but we are essentially seeing the numbers of a balanced market. It just feels hot since we haven't been here in a while.
If you need the statistics for a particular neighborhood let us know we are here to help at www.boulderhomesource.com.
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