Q2 Market Update

Posted By: Elijah Jennings ICOR Blog & News,

As we enter the second quarter of 2023, the real estate market in Denver, Colorado, continues to experience a high demand for properties. With its beautiful mountain views, booming economy, and an attractive quality of life, Denver has become a desirable place to live, work, and play.

The median home price in Denver reached $530,000 in the first quarter of 2023, which is a 10% increase compared to the same period in 2022. The low inventory of homes for sale continues to be a driving force in the market, as sellers receive multiple offers and properties sell quickly.

The strong job market and low unemployment rate in the city have attracted many buyers who are looking to invest in real estate. Additionally, the influx of remote workers who can now work from anywhere has created even more demand for Denver's real estate market.

Although the market remains competitive, buyers should not be discouraged. With the help of a knowledgeable real estate agent and careful planning, it is still possible to find the perfect property within your budget.

The rental market in Denver is also thriving, with the average monthly rent for a one-bedroom apartment reaching $1,800, an increase of 8% compared to the same period in 2022. As more people move to Denver, rental demand is expected to remain high, providing investors with a steady stream of income.

Overall, the real estate market in Denver continues to show strength and is expected to remain robust throughout 2023. Whether you are a buyer, seller, or investor, it is important to stay informed and work with an experienced professional who can help you navigate this dynamic market. Please reach out to us for all of your Real Estate needs!