Colorado's real estate market has surged as we enter the New Year.
Nearly 25 percent more homes were sold in 2020 than in 2019 just in Denver, according to FOX31. Experts expect that number will go up in 2021.
In addition, the average median price of a home in Denver has been seeing an upward trend this year.
"In Denver, it's hovering around $600,000," Kelly Moye with the Colorado Association of Realtors told FOX31. "So it’s getting up there. And we saw an appreciation of 9% last year in the Denver-metro area."
The cost of an average condo in Denver is about $350,000 according to the Colorado Association of Realtors.
"We have 2,500 units for sale. So condos, townhomes, or single-family — throughout the entire Front Range — the whole Front Range, that’s it! To give you a feel, we would typically have 14,000 units for sale,” said Moye.
There were only 1,265 homes for sale in Northern Colorado as of Friday, January 15.
The Denver metro area's rising prices are pushing people to look for housing outside of the city.
"Weld and Larimer Counties are hitting it hard right now," said Moye. "They have typically more affordable properties and they have new construction, which we don’t have nearly enough of."
Photo: Getty Images