If you specialize in investment property or have a desire to, it might be time to make a move in Metro Denver Real Estate. The home prices in the area have been experiencing strong gains since July 2016.
The average price of a home has increased nearly 13% from 2015 to July 2016. The gains pertain to attached condos, attached townhouses, as well as detached homes for single families. This information has been pulled from data recently made public by the Association of Realtors of Denver Metro.
In the summer of 2015, single family detached homes averaged just over $412,000. In July 2016, the homes averaged a tad over $460,000! Townhomes had a 12% increase. Right now, townhomes in the Metro Denver region are selling for over $285,000!
In evaluating the period from July 2015 to July 2016, you will find that while the listings for all types of investment property types in the Metro Denver region actually dipped by .03% in July, there was a 10% increase in the active listings from June of 2016.
Investment Property in Denver Real Estate is Now an Ideal Option as Home Prices in Metro Denver Experiences Strong Gains.
This increase allows those that specialize in investment property management to experience a bit of hope that the real estate market has not yet experienced a significant amount of relief from inventory-based lows and highs – in terms of prices – for well over a year.
Early 2016 industry forecasters stated that the interest in homes in Denver would dwindle; however, that has yet to happen -which is promising news for those that have a desire to get started or continue their work in investment property management.
People still have a desire to live within and around the Metro Denver area. By purchasing homes in the area, you have the potential to gain quite a bit of money in your investment property management activities; however, there is one thing that you must consider when opting to go this route -there is currently a very strong demand for affordable housing in Denver.
This city has one of the strongest economies within the nation. Unfortunately, many individuals are unable to pay for their current homes, or pay their rent, in the area because of the drastic increases in mortgage rates and rent rates. As an investment property professional, look at both sides of the coin.
If you have property that you have a desire to sell in order to experience gains, now is the time to do so. The housing market prices average near a half a million.
However, if you are in search of experiencing long-term gains, you may want to specialize in investment property that provides affordable housing to those that have a need for that. Since 2011, rent has increased about 50% or more.
Large amounts of people are flocking to the area for its opportunities. This could be a real opportunity in the Denver real estate market.