(Newswire.net — August 6, 2013) Denver, CO — Housing statistics fully support Elite Home Sales Realtor Jim Romano’s view that the real estate market in Denver and across the state continues to recover. Romano points to hard numbers about second quarter housing activity as reported by the Colorado Association of Realtors.
Romano and many real estate professionals are encouraged by the news from the association; New Listings were up 15-percent for single-family homes and 23-percent for townhouse-condo properties. Pending/Under Contract numbers increased nearly 12-percent for single family homes and 22-percent for townhouse-condo properties. The Median Sales price increased nearly nine-percent to 260-thousand dollars for single-family homes and nearly ten-percent to 170-thousand dollars for townhouse-condo properties.
The economy, which generates the jobs that fuel Denver’s housing demand, continued to improve at a moderate pace during the second quarter. Budget sequesters and sluggish exports are taking a back seat to the housing recovery and stronger consumer spending. The impact of increasing interest rates has yet to be seen.
Romano says the current market is a good thing for both buyers and sellers, “We’re seeing some homes sell at list price in a very short period of time as compared to sell times in the industry over the past few years. Sellers are getting good prices and buyers are also getting good deals when you consider that housing values are increasing every month. This means that buying a house in the current market will likely mean a financial gain for the buyer if the market continues to trend upwards.”
Romano urges both buyers and sellers to use a realtor in the very dynamic market, “We know that the current market is causing a bit of urgency for many potential buyers and sellers. However, it’s easy to make a mistake when values climb so fast. We urge folks out there to use the services of an experienced realtor who understands the Denver housing market. Using a realtor can potentially mean the difference of paying thousands too much for a house or undercutting yourself by thousands of dollars on the sell side of the transaction.
Romano says his Elite Home Sales Team is made up of highly trained real estate professionals, “Our team of agents and administrative staff strive to be the most reliable source of information in the real estate market and make certain service and results are exceptional. With the constant changes in real estate, we look for the best ways to market properties for sellers and find the ideal properties for buyers. We achieve this by using the latest technology and tools available.”
Written by: Rob Armijo