Is Anyone Noticing The Denver Housing Market Turning Up Again In The Past Month? (days on market, short sale)

[randomparent]

Originally Posted by David Aguilar

All I know is that when you do a search on Zillow (especially if you search a particular city), it's laughable at how few homes show up.

No kidding. There is nothing currently on the market in our neighborhood. Our resident Realtor is trying desperately to drum up business, so he can sell something.

[davebarnes]

1. There is no inventory. The number of houses for sale is at an all time record low since 1985. Yes, the lowest in 30 years while the population of greater Denver has gone from 1.6 to 2.6M (up by 63%).


2. While oil & gas people are highly paid, they are not a huge amount of the labor force.
Total civilian labor force in Colorado (DEC2014) = 2.8M
"The study, commissioned by the American Petroleum Institute, calculated that 31,900 people work in the industry"
1% of employees.

3. The issue in greater Denver is NOT one of demand, but of supply.

4. Will 2015 be a record year. Maybe.
a. Prices will go up.
b. Volume may or may not.

5. Have fun out there people [buyers].

[Mach50]

That chart is insane. No wonder there are so many cranes in the sky.

[Pesare]

I guess it makes sense why the homes are selling fast and there is low inventory.. Interest rates are very low now. Also, I suspect a lot of buyers had sticker shock in 2014 and decided to wait and see which led to even more pent up demand... On the other hand, rents are really high and keep increasing.

[ucbedge]

A very good example of how the market has changed:

In 2010, there was a home down the street from me in Highlands Ranch that sat on the market for at least 6 months. It eventually sold for $575K.

That same home went on the market last Friday and was under-contract within 36 hours. The asking price was $630K.

Times have certainly changed.

[JohnnyDenver]

My friend just bought a house in the 2100 block of west 34 avenue (Denver). Was on the market for 3 days with 4 offers.

If you can buy now, do it and don't wait.

[JWEvergreen]

If you're even "considering" selling your home, now is the time to fix it up and get it ready to be listed. You might be able to sell it for a lot more than you think!

[davebarnes]

Originally Posted by JWEvergreen

If you're even "considering" selling your home, now is the time to fix it up and get it ready to be listed. You might be able to sell it for a lot more than you think!

1. You may not even have to fix it up. You may not even have to clean it. It depends if you selling your house to someone who plans to live in it as it is or if you are selling to someone who plans to fix/rent, fix/flip.
2. If you sell you may find yourself living in your car in the Walmart parking lot as you may not be able to buy a house.

[randomparent]

There's finally a house up for sale in our neighborhood, and I bet it's under contract by next weekend. I cannot believe how little inventory there is around here.

[emm74]

I've seen a slight uptick in inventory in Stapleton, but it's new listings coming online now that the holiday season is over. Things are still selling quickly, so I'm not sure it's really an upturn in the sense that listings are selling, there just isn't a lot of inventory. Any increase in inventory will increase sales, but that's not because there was an issue with things selling before now, they just weren't listed.