Despite the fact that prices within the Denver-Aurora Housing Market have increased a bit over 11% in the past year, the market has been deemed a “top performer” within the United States.
A California firm called “Clear Capital” performed the evaluations of the housing market, pulled the data, and determined the analytics. Based on the information pulled from the comprehensive assessments, even the most of distressed of structures within the housing market in the Denver-Aurora market typically sell within a week or less.
To get an idea of just how relevant this figure is, investors and other professionals in the real estate market should consider the national average for selling, which is 42 days.
According to statistics, Denver is one of the most popular real estate markets. Not only does the area have an abundance of educational and professional opportunities, it has a technology sector that is growing at a high level of speed.
As a result, the area is becoming increasingly popular among the millennials. Based on evaluations, the average price per square foot now exceeds $120; however, that average was a mere $65 in 2011.
This means that the Denver market truly stands out among real estate professionals. The demand for the homes in the area is increased by the all-time low interest rates being offered and the shortage of homes in the area; however, those that do have property available are sure to reap tremendous financial rewards.
Currently, it is advised that investors place affordability at the top of their list of importance. The average price of a home is nestled right around the $400,000 mark; however, not all that are interested in purchasing a home in the area are able to afford such extreme prices.
Ultimately, it is better for an investor to opt for distressed properties being sold at low prices, flip those homes, and then sell for less. As a result, they are likely to sell much more than investors that are selling at very high prices – due to the demand, alone.
If you want to succeed in real estate, the Denver-Aurora region should be your main area of focus. Not only will you find that your properties gain an immense amount of attention, you will quickly experience a vast array of profits.