Denver, Colorado…A Seller’s Market?

While the Denver real estate market has been branded a “buyer’s market” for well over a year now, I did a double take last week after reading that Forbes Magazine had chosen Denver as one of its “10 Best Cities for Home Sellers.”

Although it was unexpected to see this tidbit in black and white, it did not come as a big surprise, as TeamCox Realtors has recognized the strengthening seller's market for the past several months. Why? Sellers are facing less competition from builders, the Denver economy remains sound, and the market is gaining strength faster than in many other parts of the country. Builders have decreased their activity, resulting in a 58% decrease in building permits, and sold off the bulk of their inventories months ago. Currently, homebuilders are scanning the market for signs of a rebound before increasing activity. While this is obviously not good news for Denver homebuilders, the decreased competition is nothing but promising for Denver sellers.

The other good news for the Denver housing market is that area job growth remains steady, at 2%, which is contradicts national trends. The Denver area is also anchored by a diverse group of industries that seem to be weathering the economic downturn quite well.

Whether you are a Denver homebuyer or seller there is no better time than the present to make your move! For more information on selling your home in the Denver real estate market, please contact TeamCox Realtors at 303-400-6060.