Tuesday, April 26, 2011

Where Did Everyone Buy in March?

From the mountains to Aurora, and Fort Lupton to Lone Tree, guess which area sold the most homes in March? Have you guessed yet? Don't look until you do! It was neck to neck, but Denver Southeast beat out Aurora South by 7 homes and 10 condos. 217 houses were sold in March in Denver Southeast, along with 115 condos, whoppingly good numbers. Aurora South sold 210 homes, and 105 condos.

Just to put this in perspective, this means that 17% of all homes sold in March in this huge grid were sold in southeast Denver and south Aurora, and 32% of all condos sold in March were sold in these two areas as well. Seems like buyers know where to go these days.

So why are these 2 area selling so hot even in a not-so-hot market?  

Everyone knows Denver southeast is a great location: it includes the hotspots like Wash Park, Cherry Creek, DU, Bonnie Brae, old Pearl Street, and great access to just about any city around Denver. What's so surprising is the average sold price in Denver southeast in March was $438,553!  

South Aurora is a hotspot for a lot of investors looking to get cheaper homes in pretty good neighborhoods with high rents.  A lot of first-time home buyers also like the cheaper prices in South Aurora, and usually buy the remodeled houses that investors are trying to flip!

Who says the market is down and no one is buying???

See all areas MLS sold stats for March