Denver Mortgage Denver Real Estate Update Market Update Mortgage Rates Real Estate Statistics

Denver Market Update

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Owning a home may be the biggest purchase you ever make, therefore, it is important you are financially prepared to take on this responsibility. As your Denver mortgage lender, our team at American Capital Financial would love to work with you in making your dreams of homeownership come true. We will always put your wants and needs first and guarantee you get the best Denver mortgage for your financial situation.

To ensure you get the best mortgage rates, it is important to be up to date on the current Denver market so you know when a good time to buy would be. This starts by viewing the median listing price, price per square foot, and the median days on the market over the past three years.

Median Listing Price
Realtor.com states that in March 2015, the median listing price was $339,900, and the next year the price had increased to $388,900. By 2017, the price had rose 2% to $399,900 and continued to rise another 6.28% by 2018, to $425,000. This constant rise in the market implies that the median listing prices in Denver will continue to increase. If you are looking for a mortgage loan in Denver, you could use the prices over the past three years to negotiate for a cheaper rate. Our team would recommend locking in a deal now before the prices get more expensive.

Price per Square Foot
Realtor.com also states the price per square foot in Denver currently being $270. In March 2015, the price was $207 per square foot and rose over 11% to $230 in 2016. By March 2017, the square footage price had increased another 11% to $257 and by March 2018, the price rose an additional 5% to $270 per square foot. This suggests that the real estate market in Denver is becoming more popular and therefore, more valuable.

Median Days on Market
The amount of time a house is listed on the market has consistently increased over the past three years. In March 2015, the time listed was 43 days and by 2016 the time increased to 44 days. By March 2017, the median days listed on the market was 51 days and the current median time a home is listed for is 52 days. This means that buyers are taking their time searching for their dream home instead of making an impulse buy. Don’t rush when shopping the market so you find exactly what you want in a home.

Get Started Today
Home loans in Denver might become more expensive as the market continues to rise. Contact your local lender today at 303-831-9636 to ensure you get the lowest deals out there. So don’t wait, call American Capital Financial today to get started.

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