Denver Homes for Sale: Homes Under Contract Up by 19%

Some more very positive news from Metrolist today regarding Denver homes for sale. Inventory is falling, homes under contract are increasing and and sold homes are way up (12% year over year). All of this corresponds with what we've been saying for over 6 months on our blog. The Denver market is very strong and our biggest concern is the lack of inventory available for buyers.

From The Denver Business Journal:

If February is any indication, 2012 is going to be a better year for home sales in metro Denver, according to a report released Monday based on Metrolist Inc. statistics.

The number of homes put under contract in February stood at 4,150, up 19 percent from the previous month and up 12 percent from the same month last year, according to the report by Gary Bauer, an independent Littleton broker and Metrolist analyst and board member.

And this

February’s inventory of unsold homes was 10,086, down 3 percent from January and down a whopping 42 percent from February 2011’s 17,358.

As far as homes sold, there were 2,495 last month, which is up 1 percent from January and up 12 percent from the same month last year.

For years, the #1 question I get asked by clients and friends is "When do you think the market will turn around." For a long time now, I've been saying that I wish I knew. For the last month, my answer is simple: "Now."

The number of Denver foreclosures and Denver short sales are down and the invetory of available Denver homes for sale has been decreasing for a long time. If you are thinking of buying a home this year, the time to start looking is now.

Give our team a call at 303-726-1874. We can set you up on daily email alerts so you don't miss the best deals when they hit the market. Many of the best deals on Denver foreclosures are receiving multiple bids in the first few days and Denver Short sales are moving much quicker than they did even 6 months ago. Call or email us today.