(Newswire.net — December 6, 2013) Highlands Ranch, CO — James Romano, broker associate & owner of Elite Home Sales Team, believes that this is an indicator that this record-setting selling season is going to heat up after the holidays. “With sales and prices this strong at this time of year, now may be the time to buy in before prices really take off around the first of the year.”
The Metrolist numbers are very encouraging, and analysts have written off a two percent month to month decrease in sales as far less than was projected for the typically slow autumn months. Sales were up 29 percent from 2011 sales figures and up 20 percent from October of last year. The total of 4095 homes sold rose 4 percent, and was the highest October home sales number since 2008. The average price of new and existing homes held steady at $305,000, and the average asking price for Condos held at $200,000.
With a hot market holding steady over a normally slow season, James Romano sees signs that home sales may be on the verge of something big. “This has been a busier time of the year than we have been accustomed to in years past, and it is very exciting to be working in real estate right now. With inventory at manageable levels, there is every expectation that the market will close out the year strong.”
The strength of the Denver Real Estate market has been noticed at the national level. At the Rocky Mountain Commercial Real Estate Expo at the Colorado Convention Center on Nov 14th, the keynote address by Howard Lutnick – CEO of Cantor Fitzgerald, who outlined why investment banks are abandoning the mega markets in favor of higher yields in smaller markets by Denver. Romano believes that this is trend is going to reap long term benefits for buyers and sellers alike. “With the big investment banks zeroing in on the Denver market, we can expect to see sustainable strength in the market for years to come.”
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://elitehomesalesteam.com/.
Written by: Rob Armijo