The coming year will bring good news for both Denver area homebuyers and sellers, according to researchers at the University of Colorado’s Leeds School of Business. Population growth and a strong job market will continue to fuel demand for real estate in the Denver area, but they predict the market will be slower-paced in 2016 due to a corresponding increase in supply.
According to Richard Wobbekind, Senior Associate Dean for Academic Programs at Leeds, “Colorado will remain one of the top growth states nationally in 2016.” He said, “We benefit from being a very desirable state where people want to live and work, allowing us to attract top talent.”
According to the latest statistics from REcolorado, active listings in November were up 6% and new listings were up 15% over November 2014, and the number of homes under contract was up 13%. This is good news for buyers, who have faced low inventory in the past several years. Despite increased supply, average sold prices were 12% higher than in November 2014.