September 14, 2018
The booming Colorado real estate market remains a hot topic. While issues like supply and demand exist, investment possibilities are still plentiful with the right guidance. Atlas’ Nick Hodapp provided insights on current market trends in FitSmallBusiness.
The Colorado real estate market, particularly in Denver, has seen a notable growth in the value of sold properties over the course of the last 6 months. Throughout the last 6 months, the active median sales price of homes in Denver has gradually decreased, beginning the year in January at $595,000 and reaching $535,000 in June. However, the median sold price for these homes has seen an increase, $415,000 in January and $439,900 in June. This trend is congruent with the increasing number of both active and sold listings. The number of homes sold directly correlates with the median price of the sold homes and shows that with an increase in the number of active listings, there is an equivalent increase in the number of sold listings. In Denver and Colorado as a whole, we have seen strong net migration over the last 5+ years. Additionally, we have seen limited increases in housing supply. As a result, housing prices have sprung up and this will continue to be the case barring a national economic softening.