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Old 01-28-2015, 01:50 PM
 
170 posts, read 232,145 times
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I am in the market to buy a home, although I am not in a bug rush to buy, I have been tracking the market for the past few months. But over the past month I have noticed a number of homes that have been sitting on the market for a while recently being sold at full asking price and some even over asking price depending on the neighborhood and price. There are other properties that I thought had asking prices that were way too high, but have gone pending in the past month. All of this in December and January ( slow season). Does this mean 2015 is off to a very good start?
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Old 01-28-2015, 02:01 PM
 
Location: Berkeley Neighborhood, Denver, CO USA
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Default Data are your friends

//www.city-data.com/forum/denve...-charts-6.html
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Old 01-28-2015, 02:49 PM
 
Location: Just south of Denver since 1989
11,708 posts, read 33,076,993 times
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With record low inventory, prices have been driven up.

I do not know what a bug rush is. I would say if you can buy a house, and you want to buy a house, now is a good time to buy a house.

2015 will be a record breaking year, I have been tracking the market here for 20 years.

And it's not just Denver http://realtormag.realtor.org/daily-news/2015/01/26/housing-demand-rises-supply-bigger-issue?om_rid=AAEoCR&om_mid=_BUxsb2B8$$CA$Y&om_ntyp e=RMODaily

Last edited by 2bindenver; 01-28-2015 at 02:59 PM..
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Old 01-28-2015, 03:00 PM
 
Location: Denver
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Quote:
Originally Posted by 2bindenver View Post
I do not know what a bug rush is.
I think it is this:
Spoiler
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Old 01-28-2015, 03:02 PM
 
Location: Just south of Denver since 1989
11,708 posts, read 33,076,993 times
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heebie jeebies heck no.
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Old 01-28-2015, 03:56 PM
 
Location: Eastern Colorado
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I have seen plenty of houses sale during December and January, especially when the market was so tight last summer into the fall. That being said I am not so sure that the market is going to have a record year, if oil prices continue to stay as low as they are that is going to hurt the Denver metro area as a whole.
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Old 01-28-2015, 04:09 PM
 
Location: In The Thin Air
12,564 posts, read 10,091,015 times
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Quote:
Originally Posted by jwiley View Post
I have seen plenty of houses sale during December and January, especially when the market was so tight last summer into the fall. That being said I am not so sure that the market is going to have a record year, if oil prices continue to stay as low as they are that is going to hurt the Denver metro area as a whole.
Why would lower oil prices hurt Denver's housing market? Is it because of how many people work in oil and gas?

All I know is the houses that have gone up for sale in our area in the last few years have sold for more than what they were initially listed for and I expect that again this year.
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Old 01-28-2015, 04:26 PM
 
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I would say it is off to a good start. 3 out of 4 homes for sale in our neighborhood are under contract already.
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Old 01-28-2015, 04:30 PM
 
Location: Arvada, CO
13,812 posts, read 28,651,396 times
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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.
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Old 01-28-2015, 04:42 PM
 
Location: Pikes Peak Region
481 posts, read 1,242,464 times
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Quote:
Originally Posted by Timmyy View Post
Why would lower oil prices hurt Denver's housing market? Is it because of how many people work in oil and gas?
A lot of the energy companies have their offices/ headquarters in Denver. Rigs in Wyoming, Colorado and North Dakota have been basing in Denver during the current oil-shale boom. Oil prices have dropped to the point that it is now unprofitable to drill using the the common shale method of fracking. Layoffs have started in ND and WY and may soon follow in northern CO. Since many of these companies are based in Denver, low oil prices could cause a hurt on Denver's economy.

A recent estimate is 20% of downtown Denver office space is leased to energy companies. Unprofitable drilling and long-term low oil prices could have a nasty ripple effect on Denver, especially because those jobs are so high paying.

Another recent thread touches on this a little: //www.city-data.com/forum/denve...ut-denver.html
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