One of the biggest challenges in our current Denver market is finding a home for the first time buyer. Prices have risen so much in the last few years it is becoming harder for those with limited down payments to get into a new home My first recommendation to those is to wait and save as much as you can to get into the home that fits your needs. For others the struggle to find rent that is affordable makes getting into a home now more appealing. Many first time buyers are frustrated when their offers on a home is getting beat out by other stronger offers. One area of success I have had is to point these buyers to the new home builders. Many times these folks are currently renting and have time on their side and in the new home environment they do not have to compete with other offers. My last few clients have had success going this route and having a realtor go with them helps keep the process easy and I can still guide them along in the process.
We received the latest stats for the Denver market and one stood out right off the top. It looks as if the average sold home price YTD in the Denver housing market was $399,576 based on the latest report from the Denver Metro Area Association of Realtors. You can view the entire report here JANUARY MARKET TRENDS