(Newswire.net — September 16, 2013) Highlands Ranch, CO — This August Metrolist reported that new listings of properties for sale kept pace with growth of sales in the Denver Metro Area. James Romano, broker associate and owner of Elite Home Sales Team, believes that this is a great time to get into the market. “This is really good news for both buyers and sellers. It is an indicator of a stable and sustainable market, and whether you are buying or selling a strong housing market is the best time to do business.”
The latest data from Metrolist indicates the Denver housing market that is reaching a point of equilibrium after an impressive run in late 2012 and early 2013 that saw 14 straight monthly gains in sales figures. The number of homes listed for sale rose 9% in the August report and the prices of homes leveled off, with the median being about $315,000. Romano says, “This stabilization of prices is a very good thing, giving buyers the chance to catch their breath in a market where value grew quickly and buying opportunities just were not there.”
With rising inventory, James Romano sees signs that the sellers in the market are finally catching up to the demand for housing. “A market that has a point of equilibrium is a great time to buy and sell. Buyers were frustrated early this year that prices were rising, interest rates were low, and yet there wasn’t enough listings.” While it is still a very competitive Market, more choices mean more room for buyers to negotiate and shop around to find the right property for their situation.
The Denver Metro Area is one of only two markets that have seen prices exceed pre-recession levels, and the Metrolist numbers are indicating that it is one of the strongest markets in the country right now. “There may not be a better time to get in the market than right now”, Romano said, “Interest rates are still low, but with the economy improving and the real estate market fully recovered, it is just a matter of time until we see rates go up.”
Elite Home Sales is a Denver Area company with deep roots in the community. James Romano is a CRS Broker Associate and owner of Elite Home Sales with 21 years of experience in the market. For more information on the Market in the Denver Metro Area visit his website at http://www.elitehomesalesteam.com
Written by +Rob Armijo