Denver Colorado Best City for Young EntrepreneursLast week, Realtor Magazine revealed that Denver topped the list of fastest-selling real estate markets in the United States for May 2011. Denver real estate had a median age of inventory of 39 days, while the national average was down slightly from April to 92 days.

Denver’s median age of inventory was a full seven days below Oakland, California’s 46 days. Our city also topped the list back in April, and it shows no signs of letting go of that spot. Real estate markets all over Colorado have been fortunate enough to experience an increase in demand this spring, and Denver is very fortunate to be at the top of a well-performing state.

The good news for the Denver housing market is also bad news for potential buyers. A low median age of inventory means a more competitive market, resulting in more offers on each home and higher prices overall. Although mortgage rates are still at historic lows, buyers will have a more difficult time having an offer accepted by a seller as they are more likely to participate in a bidding war.

It is great to see the Denver real estate market in such great shape, and I hope we continue to experience the same demand that we have seen over the last couple of months. If you are considering buying or selling a Denver home, give me a call at 888-860-1931. I will give you the most up-to-date information about the local housing market and do everything in my power to sell your home quickly and/or help you edge out other buyers for the home of your dreams.

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