We just blogged about Colorado resale prices breaking records, and according to Zillow’s predictions in their May 2014 real estate market report, houses in the Denver metro area will continue to rise by 1.3 percent from May 2014 to May 2015.
The median home value of $253,300 rose 8.3 percent in May 2014 from a year earlier, with no change from April 2013 to May 2014.
Inventory of all for-sale homes in the Denver metro area fell 8.7 percent compared to last year, but rose 5.7 percent month-over-month in May.
Rents in Denver also continue to climb, up by 6.9 percent year-over-year to an average of $1,676, so you may want to consider the benefits of buying a home sooner rather than later.
Contact us if you would like to explore owning a home. You can also read about our Realtors® here. We look forward to answering your questions and helping you buy or sell a home in 2015.