Beacon Lending Home Loans in Denver Colorado

Denver Real Estate Market Update – April 2017

Home - Colorado Mortgage Broker

Are you looking to get into the Denver housing market? You’re not the only one. In an ultra-competitive market such as ours, a mortgage broker like myself can help you gain the advantage you need.

The Denver real estate market continued its red-hot ways last month and there is no sign of a slow-down in sight.

Per an article on Westword, an increasing number of people are flocking to the Denver area and buying homes. These people are all competing for the market’s supply, resulting in several bidding wars and plenty sold-above-asking deals. In fact, the article notes that demand is currently so high that agents are now putting “coming soon” signs on front lawns before the “for sale” signs go up.

In March 2017 in particular, the number of homes sold in the Denver area increased by 36% from the previous month for a total of 4,347 units. Additionally, the average selling price for a home jumped by 6% to $425,607.

Entering the Spring market, it’s not a surprise that we are seeing solid increases month-over-month. As we get into the summer months, it’s expected that these numbers will only grow.

An article on BizJournals notes that with so few homes decreasing in value and a limited number of homeowners struggling with their mortgage, the city of Denver is currently one of the healthiest markets in the United States. To put this into perspective, think about this; the national average for homes that were decreasing in value was 12.5% while Denver’s average was a mere 3.1%.

Active inventory in March 2017 increased from February 2017, with 4,921 units on the market. This was a month-over-month increase of 26%. Homes are also beginning to sell at a quicker rate, as the average number of days that a home spent on the market dropped by nearly 10% from the previous month for an average of 39 days.

So, what can we expect to see in 2017 in the Denver housing market?

Experts are predicting a record-breaking year as March experienced great increases in several key categories, including average price, sales volume, and listings. Additionally, we can expect to see more buyers turn to new-construction homes in an effort to avoid bidding wars and having to pay an outrageous amount for a current home.

Are you looking at buying or selling a home in the Denver area? Contact me today, your trusted mortgage broker, and let me help you get the advantage you need and deserve!


About the Author

Brian Quigley
Brian Quigley
 NMLS# #244003

Brian Quigley has been in the Denver mortgage industry since 2003. Customer satisfaction has been his top priority while guiding clients through the home loan qualification process. He is proficient in all types of mortgage financing including FHA/VA, Conventional, USDA, Jumbo, Portfolio, 1031 Exchanges, Reverse Mortgages, Refinancing, Construction loans, and FHA 203K loans.

View Full Profile
please leave a review on google
Adam Armstrong
Getting the lowest rate was the most important thing to me. I shopped 5 other lenders/brokers for my refinance. Brian was able to beat the other lenders by a significant margin....
Brent Galas
Brian, was very easy to work with for my refinance even thru this Covid time. All documents were easy to upload electronically and his processor was detailed for what was needed...
Jerred Lane
Brian has raised the bar to a whole new level. With time being precious, there are not many who have a lot of time to spare; he kept everything on point and on track.


Get Rescued Now!

Step 1 of 6

Are you looking to purchase or refinance?

Mortgage Industry News and Information

Essential Guide to Moving to Cape Coral: What You Should Know

View >>

Understanding Earnest Money: A Buyer’s Guide to Upfront Real Estate Payments

View >>

Top Rated Cape Coral Mortgage Broker Insights for Your Dream Home Purchase

View >>

Unlock Your Real Estate Potential in the Prairie State: Your Essential Guide to DSCR Loan Illinois

View >>

Discover the Top Picks for Cape Coral’s best Neighborhoods in 2024

View >>

Discover the Benefits Of The Family Opportunity Mortgage in Cape Coral for Your Loved Ones

View >>

Maximize Your Investment with the Efficient DSCR Loan Calculator

View >>

Ready to Buy? HomePath Loans are Your Ticket to Foreclosure Bargains

View >>
1 2 3 23

Join Our Weekly Newsletter

Stay up to date with the latest news from the mortgage industry in Colorado.
Stay Informed and Sign Up

Beacon Lending Locations

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram