The Current State of Denver’s Housing Industry: A Fast-Moving Real Estate Market

Denver’s housing industry is currently one of the fastest-moving real estate markets in the country. Home prices may have increased by 60% on average, to almost 200% in some areas. But the Colorado capital remains a financially healthy market.

If you are eyeing a certain home in the city, you need a reliable real estate attorney to walk you through agreements and to protect your interests. They will make sure you get your money’s worth for any local property investment.

A Limited Inventory with Increased Prices

In April 2017, Denver’s housing market only had a small number of residential properties up for sale. In fact, the city only had a one-month supply of homes, despite a six-month supply being the norm. The prices were understandably higher because of the limited inventory. Despite this, however, homes sold quickly in the city.

Denver homes stayed on the market last month for an average of only 25 days. This is a far cry from the national average of homes on the market, which is 57 days.

A Capable Lawyer for Real Estate Transactions

The local housing industry is fast-paced and, with the limited inventory of available residential properties, you might be up against other buyers for a certain home. You will benefit from having a capable lawyer to handle your real estate transactions.

The lawyer will represent you from the initial offer, all the way to the closing of a deal. They will review title and escrow agreements, site development contracts, residential real estate contracts, deeds, and other related agreements. They will also take care of title search, making sure that the home you are buying is totally and legally yours.

A fast-paced real estate market may overwhelm you. A reliable lawyer will make sure that you not only understand the process, but that you also get your desired property.