Real Estate is Local: What's the Real Estate Market Doing in North Metro Denver?

Here in Colorado we are inundated with news of the 'market'. Here are some recent headlines in local news papers:

'The Real Estate Market Hits a New Low'

'Foreclosures Are Running Rampant'

'Have We Hit Bottom Yet? Some Say No'

Living in Colorado is a blessing. One of those blessing happens not be the national stories that end up in our local newspapers. While the headlines above may be relevant to some they do not paint an accurate picture of what we're seeing in the North Metro Denver area (or Denver as whole especially). In towns like Thornton, Broomfield, Northglenn, Commerce City, Brighton, Westminster, Arvada, Louisville and Lafayette we're seeing a decrease in inventory. If you are searching for home for sale in Colorado you may notice a decrease in supply and an increase in demand we're actually seeing sold prices at or near asking price.

Here is a look at Broomfield, CO Real Estate:

The number of homes sold has actually gone up since last year.

Here's a look at the Northglenn / Thornton Real Estate Market in February 2012:

The number of homes for sale is down by 50% and the solds are up 40%.

If you or someone in your family has been waiting to sell for the market to 'turn around' - this may be the time. Even if we haven't fully recovered the timing is good to get more for your house then you could in the past.