We have a great sellers market in that home prices are exceeding the hyper housing price boom of that period around 2007-2009 we had in Broomfield. Really all over the Denver metro area homes prices are such that few homes would be considered underwater. Meaning that home owners can sell their homes is almost every case and leave the close table with proceeds….cash. So much pent up demand to sell and buy the home to match the lifestyle situation that homeowners find themselves in today.
You know the question I hear and get asked most often is how long is this market going to last. History repeats itself, as we should know , and that history can be reviewed. We can make some pretty good decisions of what direction to head in when we look at facts and the history.
Why did people want to come to Broomfield and Denver in the recent past? Great weather and 300 days of blue sky was my reason. White Gold to play on in the winter? Biking/hiking/ climbing/ pot smoking maybe for you? Oh we don’t allow pot shops in Broomfield if that is why you are coming.
Our population growth inbound is about 60,000 people and that could mean about 24,000 housing units are needed to keep up with this growth. The new home builders at best are doing around 14,000 and will eventually get closer to demand. Don’t you love that supply and demand theory from 7th grade applied economics still works. Love capitalism!
So the history point is folks will continue to come to Broomfield and metro Denver for years more. Builder’s can’t keep up as skilled trades are either in ND fracking or back to their home country. This indicates it will remain a seller market for a least several more years.
Did you read this recent story…http://www.denverpost.com/business/ci_25930634/buyers-jump-inventory-and-prices-rise-denver-metro
Buyers you have to jump in now as pricing will keep going up until the next correction. When you want Total Market Knowledge for your decision making then reach out to me and we will help.