Spring Has Sprung for the Denver Area Housing Market Prices Reach All-Time Highs, Inventory Levels Increase

GREENWOOD VILLAGE, COApril, 7 2016 – The latest data from REcolorado, the provider of REcolorado.com, a  home search site for Colorado home buyers, sellers and renters, reveals that home sales prices have reached another all-time high. Demand remains strong, with home sales seeing an impressive 39 percent jump from last month.

All month-over-month comparisons indicate the housing market for the Denver Metro and surrounding area is holding strong, thanks to an influx of new listings that boosted the number of homes for sale. At month end, inventory levels were up 10 percent as compared to last month and six percent year over year. Still, weeks of inventory remained at six, meaning it would take just six weeks to deplete existing inventory if sales continued at the same pace.

The average price of a Denver-area home continued its steady upward trend, reaching a record high of $387,547. Average sales price increased four percent month over month and nine percent year over year.

“Continued low interest rates combined with an undersupplied market put Denver-area home listings at a premium,” said Kirby Slunaker, president and CEO of REcolorado. “For those who have ever considered putting their home on the market, now is about as good as it gets.”

March home sales showed a 39 percent increase as compared to February. With 4,111 homes sold, sales were down 11 percent as compared to last year at this time. March ended with 6,083 homes under contract, 15 percent higher than last month.

Source: http://blog.recolorado.com/content/spring-has-sprung-denver-area-housing-market-prices-reach-all-time-highs-inventory-levels

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Walk On Wood

Hardwood flooring is one of the most sought-after features in new and existing homes. This eco-friendly feature can turn your home into a warm and inviting space to relax and entertain. Selecting the right flooring can be a challenge, however, depending on your design style, budget and personal preference. Before choosing a wood floor for your home, here are a few things to keep in mind, courtesy of the National Wood Flooring Association:

There are two basic types of wood flooring. Solid wood flooring can be sanded and refinished many times and can be used in all rooms, including kitchens and powder rooms. Engineered wood is manufactured with multiple layers of wood veneers, so it expands and contracts less than solid wood flooring when temperatures and humidity fluctuate. Engineered wood is a better alternative for basements and other below-ground living areas.

Hardwood floors come in different finishes. Satin gloss offers the most shine and reflects the most light, so scratches and normal wear and tear are less noticeable, while matte finishes offer the least shine.

Light woods like ash or maple help make a room appear more open and airy, while darker woods like walnut or mahogany can give a room a more stately and refined appearance.

To keep floors looking new, clean them frequently using a dust mop or vacuum. Avoid using a wet mop as water can dull the finish or damage the wood over time. To prevent scratches, place scatter rugs at all entrances and floor protector pads on the bottom of furniture legs.

When spills occur, wipe them immediately with a dry or slightly damp cloth. When floors begin to look dull, use a wood flooring cleaner to renew the luster. Use only products that are compatible with your wood floor type. The wrong cleaning product can damage the finish and possibly the wood itself.

With these simple tips in mind, hardwood floors can provide comfort and enjoyment for many years.