Highlands West RE Trends: Market Updates

Real Estate Agent with Innovative Real Estate Group

TOPIC: Improving conditions in Denver’s  market

There are some signs of strengthening in our Denver market.  The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007.  Some of this reduced inventory is attributed to homeowners taking their properties off the market in frustration because their property is not selling, but lower inventory implies a strengthening market.  Remember, the Denver area had housing inventory of 31,989 units in July 2006. Home sales rose 14% to 4,265 in September compared to the same month last year.  This is due almost entirely to the lower-end of the market (under $180K) selling like hotcakes. October's median selling price for single-family homes decreased 12% to $206,000 from the same month of '07, and was down 4.7% from September's median of $216,150.  Median selling price for single-family homes dropped 10.5% to $222,000 through October, from $248,000 through October '07.Prices are still falling, but at a slowing pace. This trend should continue into 2009 when it is expected to bottom out and slowly climb back. Hang on, it's gonna continue to be a wild ride!


This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Home Improvement
Colorado Denver County Denver Highlands
highlands west real estate
highlands west investment properties
highlands west foreclosures
highlands west fix and flip
highlands west r

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Elizabeth Martinez

This is great information for both investor and owner-occupied home sellers.

Jan 19, 2009 12:44 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Melanye Phipps

Ask me a question
Spam prevention

Additional Information