By RICK KERRAPENBERGAPLATTNERDENVER (Reuters) – Real estate sales in the Denver metro area rose 5.5 percent last month, the biggest monthly increase since October and the fastest pace since June.
The increase is driven by strong demand from people moving into the Denver area after spending last summer in Colorado Springs.
Real estate broker Alex Smith said the region’s robust housing market is also helping with demand.
“I would expect that we would see another uptick in the metro area, with that demand that is there, we’re seeing a lot of growth,” he said.
The metro area is the fourth-largest in the United States and the largest metro area in the world, with about 25 million people.
It also includes the capital, Denver, which has been a center for tourism for years.
The Denver metro is home to a number of high-end real estate markets including the upscale Wynkoop District and upscale Grand Junction, home to the world famous Blue Ridge Mountains.
The median price for homes in the region in January was $1.65 million, up 8.2 percent from January, according to the real estate site Trulia.
The average price for a house in the city of Denver was $2.06 million, down 9.4 percent from the year before.