Denver real estate in March: No houses, more problems
Houses houses everywhere, but not a one to buy. Ok, well maybe one. (Kevin J. Beaty/Denverite)
It’s been 10 whole days since I mentioned how few houses Denver has for sale, and it bears repeating. Like for instance, if you want to buy a home for under $300,000.
“Multiple offers [are] basically an expectation,” said local Redfin real estate agent Corey Keach in a news release for the agency’s housing demand index. “And it’s rare for a non-cash buyer to win any home under $300,000.”
Or if you care about home prices.
Denver, Seattle and Portland have topped the Case-Shiller Index for the last year. Meaning, for each of the last 12 months, Denver home prices have increased compared to the same time a year ago. For January, Denver prices increased 9.2 percent.
Remember that the Case-Shiller index looks at repeat home sales, and thus does not include new construction. And since not a lot of new homes have entered the market, Case-Shiller can be a proxy for home prices in Denver.