Lately you may have noticed that it has become more of a pleasure to open the newspaper when you are checking up on real estate news. In addition to the Internet news feeds, I do still subscribe to some of the old-fashioned kind, too: the ones printed on actual paper (so you can tear interesting articles out and carry them around rather than just Ctrl+C and Ctrl+Ving them).
Given the definite possibility that paper papers won’t be around much longer, I enjoy them while I still can. The Wall Street Journal is one. I opened it up on Saturdayto find a headline at the top of the second page that got my attention: “Home Sales Rise For 15th Month,” it fairly screamed.
The Denver Post had an article on Sunday that homes sold over the $1 million mark have improved vastly in the last 18 months. There has been a significant reduction in inventory in the Denver Metro area as well as liquidity in the higher end market.
If you are a frequent visitor here, you know that I follow and comment on home sales and associated topics regularly -- but even I hadn’t realized that the trend has been going for such a long time. I took a look at the charts, and it is so!
Others noted the mark, too. The NY Times seems in a permanently grouchy mood of late, so it had a less ebullient take on the statistics (which originated with the NAR). But even they were forced to note that higher prices have become the rule rather than the exception. “The nation’s stock of existing homes for sale fell 3.3% last month…tight inventories have helped support home prices…,” the Grey Lady mumbled.
The Journal was more cheerful in approaching the latest numbers. “The markets need inventory right now,” they quoted the president of a leading appraisal firm. “The pent-up demand is enormous.”
You certainly can appreciate observations like that – especially if you are a homeowner who is keeping an eye on home sales since you might list soon. If you fall into that category, I hope you will check in with me to get a more precise readout of the Greenwood Village home sales market, and what you might expect from this fall’sselling season. The Journal says, “…there are signs that demand could be picking up.” Since they also noted that national median home prices rose 11.3% from a year ago, you would have to say that’s a pretty safe assumption.
Author:Jason Peck Phone: 720-446-6301 Dated: October 22nd 2012 Views: 1,370 About Jason: ...
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!