If you have been looking to purchase a home in northern Colorado, you are not alone.  In fact, the Northern Colorado Business Report proclaims that 2013 was a break out year for residential home sales in northern Colorado.  Sales for 2013 were fueled by low interest rates and a limited inventory and highlihgts include :

  • All time record levels for homes sold, average price, and total volume
  • Average selling price of $254,509 (highest ever)
  • Total volume $2.78 billion (8.8% increase over the previous record set in 2005)
  • 10,923 closed sales (17.4% increase over the previous year)
  • Stable and sustainable yearly price increases for four consecutive years

These results point to an estimated robust demand for homes.  Such demand along with a low inventory is likely to result in continued upward price pressures.  This could make 2014 a seller’s market.  If you would like to consult an attorney regarding your pending or future real estate transaction, please contact our Business Law Group partner, David A. Closson at [email protected].

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