How Is the Real Estate Market in Colorado

When you are looking for land for sale in Colorado or any other location, you should take some time to know about the growth of the real estate sector in that particular location. You don’t want to buy land when the prices are at an all-time high, do you? Here is some basic information that you should know about the real estate market in Colorado.

Is the real estate market going through a dull phase in Colorado?

If you thought that, like most of the other states in the USA, Colorado, too, is undergoing a rough phase in its real estate sector, you are mistaken. Yes, the COVID-19 pandemic did shake up the industry a bit initially. However, since March 2020, the scene is looking quite bright in the state, according to leading real estate agencies.

When you are looking for land for sale in Colorado or any other location, you should take some time to know about the growth of the real estate sector in that particular location. You don’t want to buy land when the prices are at an all-time high, do you? Here is some basic information that you should know about the real estate market in Colorado.

Denver, especially, showed a lot of promise for the sellers at the beginning of 2020, and surprisingly, it is continuing to be favorable for the sellers, despite the pandemic.  If you are looking to planning to list your land for sale in Colorado, this is the right time. This is because, according to the recent report of the Denver Housing Sector, Colorado is definitely a hot-spot for sellers, if their property worth is between $300,000 and $4,000,000.

How did Colorado’s real estate sector survive the pandemic?

In the months of March and April, when the pandemic outbreak was at its peak, the real estate sector across all countries, including Colorado, did undergo a slump. However, the Colorado Government undertook strict social-distancing measures and imposed complete lockdown to control the spread of the virus. 

By the month of May, the housing sector started to recover from the slump. This was proved by the fact that the number of new home listings increased by over 50% when compared to April 2020. As the lockdown rules were released by the end of May, the housing sector became quite active in the state. The number of new home listings is still at least 15% lesser than the listings last year; however, the silver lining is that the pending home sales figure grew by around 20% in 2020.

When should buy land or property in Colorado?

The season of the state plays an important role in deciding when you have to buy property or land in Colorado. According to real estate experts, you can consider investing in real estate here during the late summers or early fall season. This is the time when you will find lots of open properties in the market at affordable prices.

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