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Old 04-06-2016, 12:07 AM
 
Location: Prescott Valley, AZ
2,658 posts, read 2,304,927 times
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Food for thought.

Via Denver post, Denver home listings jump 33.6% from February to $345k. Average median home price rose by 5.1% to $405k.

Who thought the bubble was going to burst? Not I, the increasing home prices will stay for a while then level off a bit. Will they reach California prices anytime soon? No, but they could reach up to $500k average median home price if the percent increases by 5% at the least. If you can sell your home, make a profit and want to move out of state, it's a good idea. Lastly, during the spring, usually more people put their home on the market, so it makes sense of the additional listing that appear online.

Denver home sale listings jump 33.6 percent over record-low February - The Denver Post
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Old 04-06-2016, 06:44 AM
 
Location: Washington Park, Denver
6,904 posts, read 6,494,653 times
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Listings almost always jump in March.
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Old 04-06-2016, 07:24 AM
 
Location: The Berk in Denver, CO USA
13,947 posts, read 20,196,196 times
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The headline, while factual, is misleading.
See http://www.city-data.com/forum/43606358-post303.html
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Old 04-06-2016, 07:30 AM
Status: "Celebrating 30 years as a Broker" (set 19 days ago)
 
Location: Just south of Denver since 1989
10,882 posts, read 29,310,762 times
Reputation: 7085
That is true. The listing season starts in March. I searched only metro Denver. I did not include listings from Boulder, northern Colorado, Mountain, Plains, or Southern Colorado.

There are 2929 active single family listings in the MLS, 861 attached single family, and 236 new to be built, properties to buy.
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Old 04-06-2016, 08:25 AM
 
708 posts, read 497,046 times
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We bought a home in August 2013 for 159,000 now valued at 264,000. Crazy market.
Light rail is making a difference in values too.
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Old 04-06-2016, 08:38 AM
 
13,675 posts, read 13,485,460 times
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Quote:
Originally Posted by Willistonite View Post
We bought a home in August 2013 for 159,000 now valued at 264,000. Crazy market.
Light rail is making a difference in values too.
Yes, I think part of the reason for the jump in Edgewater is that there's so much more retail development in the area. We're getting a movie theater down by Sloan's Lake, a frickin' kombucha bar (seriously?), a bunch of condos and shops/restaurants in that mostly abandoned shopping center on 20th... It's crazy. I'm excited about the increasing walkability, but my roommate is trying to buy her own place, and she's not finding anything remotely affordable.

There's a house that is basically a shoebox a few streets over that is going for $360,000. It's half the size of my place and $150K more than I paid 3 years ago. Granted, it's been redone quite nicely, but it's TINY.
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Old 04-06-2016, 08:59 AM
 
708 posts, read 497,046 times
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Quote:
Originally Posted by JrzDefector View Post
Yes, I think part of the reason for the jump in Edgewater is that there's so much more retail development in the area. We're getting a movie theater down by Sloan's Lake, a frickin' kombucha bar (seriously?), a bunch of condos and shops/restaurants in that mostly abandoned shopping center on 20th... It's crazy. I'm excited about the increasing walkability, but my roommate is trying to buy her own place, and she's not finding anything remotely affordable.

There's a house that is basically a shoebox a few streets over that is going for $360,000. It's half the size of my place and $150K more than I paid 3 years ago. Granted, it's been redone quite nicely, but it's TINY.


Have her try over by Barnum West, Denver by Lakewood. Houses are still reasonable but going up.
We bought another house there for $260,000 in December valued on Zillow for $272,000. Only 10 minutes downtown Denver if light traffic, 4 blocks from light rail. Last area that is close to Denver where homes are still reasonable. Try to get closer to Highway 6. Nice mix of houses.
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Old 04-06-2016, 09:08 AM
 
245 posts, read 250,692 times
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I really thought the market would cool off some this year, apparently not. My co-worker has put in over asking price offers on about 10 places priced between $350-425K and lost them all. Anything in the $400K range is gobbled up quickly.

The wife and I bought a new build last September and kept our other house that we purchased in 2010 as a rental. Our plan was to hold it forever, but we are seriously considering cashing out next spring when the tenants are out. Another year of double-digit increases and bubble territory has to be near. Probably wrong on that too.
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Old 04-06-2016, 09:41 AM
 
708 posts, read 497,046 times
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Quote:
Originally Posted by DenverBound41 View Post
I really thought the market would cool off some this year, apparently not. My co-worker has put in over asking price offers on about 10 places priced between $350-425K and lost them all. Anything in the $400K range is gobbled up quickly.

The wife and I bought a new build last September and kept our other house that we purchased in 2010 as a rental. Our plan was to hold it forever, but we are seriously considering cashing out next spring when the tenants are out. Another year of double-digit increases and bubble territory has to be near. Probably wrong on that too.

Your story sounds similar to ours. We kept our original house as a rental when we bought are new one.
We are up 100K but hard to sell because value keeps gong up plus we make $900 on rental per month over our payment.
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Old 04-06-2016, 09:47 AM
 
Location: Born & Raised DC > Carolinas > Seattle > Denver
9,349 posts, read 5,537,058 times
Reputation: 9446
Being in NW Parker, I'm curious as to what that new monster shopping center down in Castle Rock is going to do for property in North Central Douglas County.
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