(Newswire.net — October 20, 2013) Denver, Colorado — Roberta Hutchings, real estate broker and owner of MainStreet Properties, is very excited by the direction the market is going “We are seeing steady gains in prices and a lot less negative equity, which is encouraging people to sell who had been holding back. This is driving sales at a time of year when we normally see business slow down.”
Analysis of home sales statistics released by the Metrolist listing service show that buyers closed sales on 5635 homes in August, a 20 percent increase from the same time the previous year. “Based on the numbers, sales and inventory are not falling off like we have seen heading into the Autumn months before, and we can expect to see high sales velocity and increased inventory through the winter months,” Hutchings said “It doesn’t appear that the season is cooling down sales as much as we have seen before.”
Sheila Surber, real estate broker and owner of MainStreet Properties agrees with Roberta that the statistics are a sign of an enduring market that isn’t being affected by the season “We are seeing that homes are only staying on the market for an average of 39 days. The average time on the market the previous year was 64. People are finding that not only can they sell their home for a better price, they can close the sale faster.” She is most encouraged by the fact that the average price of a home rose from $285,692 to $312,418 “According to RealtyTrac, 12 percent of homeowners still owe more on their home than it is worth. The steady increase in price will increase quality inventory, as sellers are able to sell without having to sell short. When things were at their worst during the housing crisis, up to 40 percent of homes were upside down on their mortgage.”
Hutchings and Surber are both grateful for a banner year in the recovery of the Denver real estate, and are looking forward to a strong fourth quarter of 2013. “Market conditions have made this the perfect time to sell your home and recoup losses that we all felt during the recession.” Hutchings says, “The formula of higher prices coupled with low interest rates is making is a great time for a homeowner to sell. It is also much easier for buyers to get a home loan at a great rate and close a sale.”
MainStreet Properties is co-owned by Hutchings and Surber, who are top real estate professionals in the Denver area who keep their fingers on the pulse of the local market. To inquire about Denver Area Real Estate, please visit their website at http://www.coloradomaintstreetproperties.com.
Written by: Rob Armijo