The Denver real estate market has appreciated considerably since the the market correction that bagan in 2007. There is no doubt that it’s become one of the hottest housing markets in the country with the average sale price for a single family house recently hitting $439,161. That’s a new record and 40% above prices prior to the market crash.
Buyers have become increasingly frustrated as many of them are being priced out of the market. Multiple offers on homes are becoming common place and buyers are having to pay over asking price. Chuck Harris, a real estate broker who assists clients with finding top Colorado real estate agents, has noticed a huge increase in the number of buyers contacting him for assitance. “We used to get a 50-50 mix of buyers and sellers who would contact us. Now it’s more like a 95-5 mix. Almost everyone contacting us is looking for a Denver buyers agent. It’s crazy!”.
The real estate website, Zillow shows recent home prices in Denver are hovering around $383,000. They predict a further increase of more than 4% this year.
Do you know anyone who recently purchased a house in Denver? Did they use a real estate agent or did they decide to make the purchase without the assistance of a local REALTOR? We’re finding tha the younger generation of residence in Denver are prefering to buy a home without hiring a realtor. It seems like so much more work to buy a house without an agent. If you recently purchased a house without using a real estate agent, we would love to hear about your experience.