The Foundation: A Denver Real Estate Blog by Feaster Realty

WE'RE NUMBER ONE....and we're not just talking about the Broncos.  The Denver real estate market wrapped up the year as the #1 real estate market in the country!  Here's some key 2015 Denver Real Estate Statistics from DMAR (Denver Metro Association of Realtors) market trends report.

2015 Denver Real Estate Market Statistics 

• 14% year-over-year increase in home value (home owners - we'd say you are #WINNING)!  
• 65,872 new listings, up 6% year-over-year 
• $363,143 - Average sold price for all Denver residential properties in 2015 
• Top three Denver area counties for homes sold in December 2015: Denver, Arapahoe, and Jefferson

• $20.16 Billion sold volume in 2015 (yes, that's a B!)

2015 New Construction Denver Real Estate Market Statistics 

• Scrape Lots (aka homes purchased to be torn down and rebuilt with brand new construction) were running $200,000-$250,000 a few years ago are now $350,000-$400,000 in those same neighborhoods (e.g. LoHi, Berkeley, Sloan's Lake, Highlands, & Sunnyside).

• Home builders & contractors are feeling the pressure and predicting it could take 5 years to build up enough inventory to meet the demand. 

A Few Things to Think About...

If you already own a home, you are sitting pretty right now - Congrats!  If you're renting or moving to Denver, it's still a pretty good time.  While Denver home values are indeed high, inventory will continue to be low for quite a few years due to our city's ongoing population and economic growth.  With that in mind, there's a good chance that the potential for home ownership in Denver won't get any easier in the foreseeable future.  All that said, it all depends on each individual's current short and long term goals and plans.  We'd love to help you figure out if the time is right for you.