Looking at the spread of listings on the market in the Denver metro area is an interesting study.
26% of homes on the market are in the $300,000 to $500,000 range.
As the price goes lower, so do the choices of inventory. This a tough news for the first time home buyers who are trying to take advantage of the $8000 tax credit.
This part of the market is experiencing a very strong influx of buyers, with most homes (if they are in good condition) receiving multiple offers.
It’s so hard to explain to a first time buyer that the price they are looking at is really the “starting price” in a bidding war.
Total Combined Number of Homes for Sale Graph
The total number of homes on the market is much lower that it has been for many years.
This fact, combined with the surge in the market in the lower end continues to make finding a home very difficult for some.
About the Author
Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog
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