Well, unfortunately, average rent is going to continue increasing. According to a recent survey by Discover Home Loans, around 90 % of homeowners believe their home is a great investment. And according to NAR, over the past 12 years, the net worth of the typical home owner has ranged between 31 and 46 times that of the net worth of the typical renter.
Single Family Residential
|Values $500,000 - $749,999||Values $750,000 - $999,000||Values $ 1 Million+|
|Active Inventory||Over All Markets||3,338|
|Average Days on Market||90||90||124|
|Per Square Foot Total||$170.00||$188.00||$276.00|
No winter blues on the high end of the market. February’s 22 inches of snow in the Denver area did not bury the high end market last month; in fact, it heated up.
Nearly 9% more properties sold in the Signature Market ($750,000 - $999,999) in Feb than in Jan (24% increase compared to 2014).
The Luxury Market ($1,000,000+) saw an increase of 40% more homes selling in Feb than Jan. The price per square foot is on the rise!
- Jill Schafer, DMAR Market Trends Committee