While much is being said about Denver real estate trends, the statistics are not looking all that bad. As of March 2008:
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While the combined average price in the Denver Metro area is $21,000 less than a year ago, the drop in values began to level off from February to March this year with a loss of only $1300.
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The total available inventory for sale decreased 3.46% from the same time last year. With builder inventory at the lowest in recent history, sellers can expect values to begin increasing soon.
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The Absorption Rate dropped considerably from February, down 6.4 weeks, with the average days on market receding to 111 days from last March’s 119 days.
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The Median Sold Price increased to $224, 900 in March. The February median was $221,500.
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The total number of all homes and condos contracted for sale was 5,874 just 246 less than March 2007 total of 6,122. Sales are still strong.
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The national average 30 year fixed mortgage interest rate as reported by Freddie Mac was 5.88% on April 10. The 30 year rate has held steady under 6% for the last 30 days.
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Welcome to Denver Dwellings where I blog about Denver real estate trends, where to live, eat, play and how to buy
or sell a house in Colorado. This part of the world is where I call home, it is a place I love and I hope that
joy shows through!
