November 26, 2017 // Real Estate

Appreciating Colorado's "Peaks" and "Valleys"

Anyone who owned a home through the Great Recession of ‘08/’09 can be forgiven for thinking that every “peak” in values must be surrounded by a “valley” of some kind. Data provided by the Colorado Association of REALTORS® suggests that sometimes a peak is more of a plateau. At least, that’s how the data presents in the Boulder-Denver metro area.

 

According to CAR data, September saw 15.6 percent fewer single-family homes for sale from a year earlier, and 8.4 percent fewer condos. For those two property types, August sales were down 17 and 12 percent year over year, and July sales were down 12 and 7 percent respectively. And yet, inventory is even tighter than last year, down 24 percent in September 2017 versus a year earlier.

 

Not surprisingly, median prices have risen over that same period, up 7.3 percent for single-family homes and 12.4 percent for condos and townhomes. Clearly, demand for available inventory is still present, though not at the same level as previous years.

 

The Great Recession was a dramatic event that reshaped our landscape and our expectations. But if you look at the real estate market before and after, what you see is a growing region, now reaching its peak after a nine-year recovery, and continuing what would have been a natural trajectory had the Great Recession not occurred. The “peak” we’re seeing in today’s real estate market more closely resembles a tapered incline—and an opportunity to catch your breath.

 

 

 


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WK Real Estate

WK Real Estate

Founded in 1976, WK Real Estate is passionate about connecting people with the right properties and the best resources. We blend the latest technology with the best customer service to bring a unique, memorable and high quality experience to each client.


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