As a longtime Denver real estate professional, it is so gratifying to see a strong home market here in Colorado – and nationally as well. Rather than the typical autumn cool down we see this time of year, home sales actually increased in September. Big thumbs up from me! Let’s talk about some specifics.
- According to National Association of Realtor (NAR) stats, home sales rose 3.2% in September from the previous month – the highest they’ve been since June.
- The national median home sale price rose 5.6% to $234,200.
- In the West (including Denver), sales rose 5%, second only to 5.7% gains in the Northwest.
- Mortgage rates remain near the historic low set in November 2012 (3.31%) rising slightly last week to 3.52%.
- 34% of September buyers were first timers, the highest first time buyer rate since July 2012, according to NAR.
For home owners, this is a great time to sell. Home builders are cranking out fewer homes than they have in the past year or two at this time, and demand continues to outpace the available number of homes. If you’re thinking about selling, you can expect to be met with a strong positive response from potential buyers.
For buyers, you need to be pre-approved for a mortgage, you need to be flexible, you need to be ready to act and you need the help of a Realtor – an expert who can help you snag the best possible deal and best possible home for you in this ultra-competitive marketplace.
If you are ready to sell or consider a home purchase in the greater Denver Metro area, get in touch. Now is a great time to be a homeowner, and whether you are buying, selling or weighing your options, I’m happy to help you take the next step.
The Meyers Group