Clients have been calling and asking, where are the real estate deals in Denver. Both investors and first time buyers are amazed that there just aren’t more “screamin deals in Denver” out there.
I’ve been blogging all year that this market, like all real estate markets is all about supply and demand. And right now, the supply of homes for investors and first time buyers is lower than in recent history. The banks may release some foreclosed homes in the 4th quarter of this year, but the glut of foreclosures seems to be over.
And just like any real estate market, the further away from the work centers you go, the more opportunities you may find. Go out to the far exurbs or even the suburbs and your selection increases, and prices are still soft. Move up in price and you will find even more inventory and more deals. I checked for one client and found a 7 year supply of homes over $1 million in part of a Denver suburb. With that kind of inventory, you can bet some “screamin deals in Denver” are being made.
So, the deals are out there, they’ve just moved. Several years ago it was the lower price range homes. Now the real estate deals are in the upper price ranges. If you want to check out all of the Denver area homes for sale, go into my website and look for the search homes button. You can look at all of the homes for sale in the MLS/IDX at no cost or obligation.
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