(Newswire.net — May 14, 2013) Denver, CO — Modern Real Estate brokerage co-owner Ryan Jonke says, “Denver is at the heart of Colorado’s housing recovery. We’ve seen a big sales spike.”
The Colorado Association of Realtors is reporting a 16 percent increase in first-quarter home sales as compared to the year before. The numbers reflect more than 18-thousand sales of single family residences, condominiums, and townhomes during the first three months of this year.
Meanwhile, co-owner Paul Kenner of Modern Real Estate says houses are selling faster and gaining value. “The Colorado Association of Realtors is reporting that the state’s 225-thousand dollar median home price is up 15 percent or about 33-thousand dollars from last year. We’re also seeing houses sell about eight days faster on average as compared to 2012.”
The Colorado Association of Realtors is reporting that on average a home is selling after 90 days on the market. Kenner says home sellers in Denver and throughout Colorado are enjoying a long-time-in-coming housing recovery. “Our agents at Modern Real Estate and throughout the region say houses are selling very fast in comparison to recent years. We also note that in many cases sellers are getting full list price.”
The Colorado Association of Realtors reports that in some areas of the state homes are selling for nearly 100-percent of list price.
Colorado’s housing recovery appears to be happening in much of the U.S. The National Association Realtors (NAR) reports that Pending Home Sales in March were up seven-percent from the year before. Pending Home Sales is a leading indicator for the housing sector based on pending sales of existing homes.
Back in Denver, Ryan Jonke of Modern Real Estate believes the housing recovery will continue for some time. “When you consider that the housing market was at its lowest point since the Great Depression, I believe the recovery will be ongoing for several months and maybe even years. There are many Americans who lost their homes to foreclosure and short sale. Many of those folks are now reentering the market and buying up homes at a healthy pace.”