Colorado Aspen Real Estate Market Heats Up
As the summer sun warms the air, the Colorado real estate market heats up along with it. Increased commerce and industrial interest all over Colorado has caused a definite uptick in sales volume in many regions – as well as slowly escalating home prices.
In the last two years, housing values across the country have declined. In places like Las Vegas, the cost of an average home has nosed-dived nearly thirty percent in the preceding two years. On the other hand, Genesse, Colorado, thirty minutes west of Denver, has seen the average price of a three-bedroom home jump nearly fifteen percent in the last six months.
In the more famous areas of Colorado, the last twelve months has brought nearly twenty-five percent increases in housing prices. In communities like Aspen and Snowmass, the typical home’s value has steadily dipped for the last four years, but over the last several months sales are mushrooming as buyers benefit from low interest rates – increasing prices almost sixteen percent in just the last quarter.
A close look of the Colorado housing market reveals that even during times of economic hardship, real estate does not decline as much value as some other areas of the country. Obviously, housing values sink when times get hard, but Colorado’s gorgeous environment and cultural diversity seem to retard the decline a bit – so when the nation gets its economic house in order real estate in Colorado gets hotter than ever.
The economic downturn of the couple of years radically shook many Colorado communities. However, even the most devastated communities of the state are beginning to rebound. Rising energy prices have escalated demand for the natural gas all over western Colorado. As the energy industry hires additional workers for good jobs the foreclosure stats have been reduced to pre-2008 levels in many counties. These towns are seeing upward movement on sales numbers as well as housing values as the general Colorado real estate market heats up. In early 2009 in Parachute and Battlement Mesa – two small towns in the heart of Colorado’s energy industry – almost thirty percent of houses stood unoccupied. Banks foreclosed on many houses and now those homes are witnessing increased interest as the area stabilizes and investors are snatching up homes that were less than two years ago at the height of the boom but have never been lived in. Often this means a brand-new property at up to twenty-five percent less than it was built for.
More Carbondale Real Estate resources: http://www.thefleishercompany.com/
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