Clear Capital, a company whose whole mission is to evaluate real estate, called Denver a top market and "one of the nation's most talked about."
Why? There's the obligatory "millennials love it here," but the company also offers some numbers. Here are the most interesting:
- Home prices in the area have risen over 11 percent since this time last year.
- The median price per square foot in the metro area is "now well over $120, nearly double the area's market low of around $65 in 2011."
There's also a bit of discussion of distressed properties. Quick reminder, distressed properties are those that are in foreclosure or poor condition. And earlier this year, Clear Capital noted that Denver doesn't have a lot of distressed homes to sell. For reference, here's how little:
The latest numbers on distressed properties show Denver still doesn't have many:
- Distressed saturation levels in Denver have fallen to just 5.7 percent, compared to a national average of 13.5 percent.
- Distressed homes in Denver tend to stay on the market for just 10 days, moving four times faster than the national average of 43 days.
There you have it -- a top real estate market is all about expensive homes and moving fast.
