Yesterday, the S & P Case Shiller report on real estate was released.
Denver was cited as one of 3 major metropolitan areas with a slight uptick in home values, in this case .1%.  While this may seem like a tiny bump, combine it with the Today Show appearance of Barbara Corcoran who placed Denver as the number 1 recovering city and the fact that houses in low to medium price ranges are getting multiple offers and you’ll begin to see a pattern.
Denver is in the national and local news because our economy tends to be counter cyclical.  We hit the skids earlier than most cities and we’re rebounding first. We like to be on the cutting edge. Or maybe we were the canary in the coal mine.  In 2007 we led the nation in foreclosure sales, now we’re getting multiple offers and the days on market is shrinking in certain price points.  You can see in this chart from Keeping Current Matters, that as months’ supply goes down, appreciation begins to go up.
I was interviewed by Bazi Kanani of 9 News yesterday. She wanted to know what the market fundamentals were that boosted Denver’s real estate market, and what a practicing real estate agent is actually experience at ground zero.
If your home is priced between $150,000 and $500,000, you’re competitively priced compared with the competition and your house is in top showing condition then you should get an offer within 2-3 months at the longest. If you don’t, then the price needs to come down.
Luxury homes and higher priced properties are taking longer to sell, and if you want to sell your luxury home you must be exceedingly well priced and prepared to negotiate.  You may also need to factor in regular and aggressive price reductions to get a sale.
Who knows what lies ahead? As Roseanne Roseanna Danna said, “if it’s not one thing, it’s another.” Here’s to a recovering Denver market with out “another.”