Denver's real estate market remained fairly stable during the housing boom and bust years. Home prices took a comparatively small hit and have since been on the rise, climbing 8% over the past 12 months, according to Realtor.com.
"It's one of the first 'normal markets' where you're seeing this kind of upside," said Errol Samuelson, president of Realtor.com. "That's a good sign for the overall housing market."
Now, the prospect of an oil boom in the area has boosted demand for homes even further. Homes are generally sold in less than a month.
For sellers, there is little competition. "The active listing level is the lowest since 1998," said Michael Welk, a spokesman for the Colorado Association of Realtors.
