Thought we would share some of these 2017 real estate facts recently released by the Denver Metro Association of Realtors. The statistics show 2018 is starting off with record low inventory of only 3,869 active listings (as of January 2018).
Real estate insights for 2017:
- Colorado was the 9th fastest growing state in 2017 with an increase of 77,000 residents. This is a decrease from 2016, where we grew by 90,000 residents.
- Experts are saying it could take 10 years to recover from the deficit in the housing market. The current low inventory is credited to a shortage of land and a shortage ofcontractors, which leads to the slowing of new build activity.
- The median sold price of single family homes in Metro Denver is $416,000 up 9.47% from January 2017.
What does this mean? Home ownership continues to build wealth and equity by simply paying your mortgage each month. If you are curious where your home value is currently—give us a call, we are happy to run numbers and let you know.