Trying to get an overview of the real estate market in a quick glance can be overwhelming, but you can gain a large overall understanding of the market with a few simple statistics.
No frill, no external factors, just numbers. Denverite put together this list of five numbers to explain the real estate market at this moment:
1) 2,589 residential units
Denver needs affordable housing. City council has signed off on a plan that would mean up to 2,589 residential units where the former Gates Rubber site stood, including 338 units of affordable housing.
That’s the amount of money that Denver wants to use to help people avoid eviction as part of the new Temporary Rental and Utility Assistance Program.
15.6 percent fewer homes have sold in metro Denver this year compared to last year. However, this definitely doesn't mean lower prices.
4) 88% rented
Denver’s excess of luxury rental units has now caught the eye of the Wall Street Journal. For an individual building like Decatur Point that’s only 88 percent rented, it means incentives like a $500 Visa gift card or six months of pet grooming.
5) 139 emails
Before the average Colorado home sale is finalized, 139 emails are exchanged, according to Amitree’s complexity index. That made Colorado the second-most complicated state to sell a home, behind California.
If you're looking for more information on the Denver housing market, contact one of our agents.