(Newswire.net — September 16, 2013) Denver, CO — The latest data from Metrolist in August shows a Denver housing market that is cooling off after a red-hot 2013 that saw sales soar by 32 percent from July of 2012. The signs that the market is reaching a point of equilibrium is something that Roberta Hutchings, real estate broker and owner of Colorado MainStreet Properties, finds deeply encouraging. “A market that is at a point of equilibrium can be a great time to buy and a great time to sell. Right now we are seeing great prices and wonderful inventory.”
Statistics that were made available by Metrolist show that there was a nine percent increase in housing listings to go along with the rosy numbers for median home sales. This increase in listings is a side effect of an increase in the valuation on homes, but benefits the buyer by giving them a wider selection of homes that may meet their needs. Both numbers indicate that the market is growing at a sustainable pace, with more than enough new listings to match the strong sales numbers and increase in property values.
Sheila Surber, real estate broker and owner of Colorado MainStreet Properties, agrees with Roberta Hutchings that the statistics are a huge positive to buyers and sellers alike. “When inventory is too low and prices increase as much as they have recently, it can be a really frustrating time to be a buyer.” In regards to a recent CBS story about the frustrations buyers faced earlier this year in purchasing homes she says, “There was no shortage of buyers, but nobody was selling. Prices and new listings are finally catching up to the recovery of the market.”
Hutchings and Surber both agree that buyers and sellers will find this a perfect time to enter the market, with the equilibrium giving both parties room to negotiate to get a property they love at a price they can afford. “Interest rates are low right now, and we are not sure how much longer that will last.” Hutchings says.
Main Street 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