Metro Denver is showing strong signs of improvement in the real estate market. For residential real estate, we have seen a 17.4% increase in closed sales year over year in August 2012, as compared to August 2011, with a 9.8% increase of average price. New listings have increased by 7.5%, with a 34.4% decrease in average days on market.
For the condo market, we have seen a 20% increase in closed sales year over year in August 2012, as compared to August 2011, with a 9.1% increase of average price. New listings have increased by 11.9%, with a 37.8% decrease in average days on market.
If you are looking for property, you will need to be aggressive in getting in offers. If you are selling, keep in mind that inventory is down. And, we all understand the theory of supply and demand. We can expect price to climb.
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