Is Denver real estate cooling off?

The Denver-Aurora-Lakewood area ranks 21st for cooling housing markets among the 100 largest cities, between Jacksonville and Tucson.

Is Denver Still a Hot Real Estate Market?

Denver, Colorado has been one of the hottest real estate markets in the United States for several years. As the population continues to grow, more people are moving to the city, which has driven up home prices and made it difficult for buyers to find affordable housing. But is Denver still a hot real estate market? Let’s take a look at the facts.

The Numbers

The average price of a home in Denver is currently $436,000, which is up 7.3% from last year. The median home value is $375,000, which is up 6.7% from last year. The median rent price is $1,862, which is up 4.5% from last year. These numbers show that Denver is still a hot real estate market.

Demand and Supply

The demand for homes in Denver is still strong. The population continues to grow as people move to the city for jobs and other opportunities. At the same time, the supply of homes is limited, which keeps prices high. This combination of high demand and limited supply makes Denver a hot real estate market.

Interest Rates

Interest rates are also a factor in Denver’s real estate market. Mortgage rates are currently at historic lows, which makes it easier for buyers to get financing for a home purchase. This helps to keep prices high and drives demand for homes.

Conclusion

In conclusion, Denver is still a hot real estate market. Home prices are up, demand is strong, and interest rates are low. This combination of factors makes it a great time to buy or sell a home in Denver.

FAQ

What is the average price of a home in Denver?

The average price of a home in Denver is currently $436,000.

What is the median rent price in Denver?

The median rent price in Denver is $1,862.

Is now a good time to buy or sell a home in Denver?

Yes, now is a great time to buy or sell a home in Denver.