With the Rockies’ home opener having come and gone, spring has arrived on the Front Range. Among other things, typically this place on the calendar marks a rebirth in activity in Denver’s real estate market, which can be a bit dormant during winter. Right on cue, a national real estate firm, Redfin, recently ranked Denver as the hottest market in the country.
Denver homes are selling faster than anywhere in the country, according to Redfin, with 27 percent of new listings turning to pending sales in three days or less. (That figure is up nine percent from the previous year.) In addition to Denver, Redfin rated the housing markets in Austin, Seattle, Portland, and Dallas as the hottest in the country. Though Redfin stops short of drawing a direct connection, the company does note a correlation between “significant” population growth and the fast-selling markets in these cities. Between July 2012 and 2013, according the U.S. Census, Denver’s population grew 1.9 percent. Austin and Houston were slightly higher with growth of 2.6 percent and 2.2 percent respectively.
Point is, if you plan on entering the Denver housing market this spring: be prepared. (Bonus: Look for the 5280 guide to Denver real estate in the May issue of the magazine, which examines some of the most sought-after neighborhoods in the city.)
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