Wednesday, March 19, 2014

Metro Denver #7 Top Sellers' Markets in U.S.

Metro Denver metro area ranks No. 7 nationally on the list of top U.S. sellers' markets for homes, according to the Zillow February Real Estate Market Reports.
Northglenn was the was the top sellers' market and Evergreen the top buyers' market within the metro area, according to Alexa Fiander of Zillow.
Fiander said top buyers' markets tend to have substantial inventory, homes that languish on the market and then sell after steep price cuts.
Top sellers' markets tend to have low home inventory and the quick sale of homes selling at higher than the asking price.
Fiander said that Zillow's February Real Estate Market Reports showed that home values rose 7 percent year-over-year in February in metro Denver, which exceeded the national increase of 5.6 percent over the same period.
She said that Denver metro home values are expected to increase 1.6 percent during the next 12 months, according to the Zillow Home Value Forecast.
In the Denver metro area, the top five sellers' markets are Northglenn, Thornton, Ken Caryl, Westminster and Arvada.
The top five buyers' markets are Evergreen, Denver, Lakewood, Broomfield and Centennial.
Overall, Zillow said that prices and availability of homes will vary across the nation with the West Coast more favorable for sellers and the East and Midwest for buyers.
Reflecting the analysis is the fact that the top sellers' markets are primarily on the West Coast: San Jose, Calif., San Francisco, San Antonio, Los Angeles, Seattle, Riverside, Calif., and Denver.
The top buyers' markets tend to be on the East Coast and Midwest: Cleveland, Philadelphia, Tampa, Fla., Chicago, Pittsburgh and Cincinnati.