Life Style Denver by Gretchen Faber

Denver Colorado Real Estate | February 2010 Market Statistics

The Denver area real estate market statistics for February 2010 were released by Metrolist last week.

The Denver market is firming, and luxury properties are breathing a few gasps of life too. There were 51 closings above $1,000,000 in Denver last month.  The Kentwood Companies represented approximately 26 of those.

Denver still suffers from a lack of inventory, which is proving frustrating to buyers. This will translate to rising prices, but we’ll need stable employment to really say we’re through the worst.

Last month, we had 17,465 properties on the market in Metro Denver. This month, 18,869. That was a needed increase at the time of year we typically begin to add more inventory. We’re off by nearly 6% from this time last year, which will translate to pent-up buyer demand.

Rates are extremely low for the time being and the home-buyer tax credits are still in effect until the end of April.  We’ll continue to add inventory through the summer, but the pace will probably slow.  Buyers – begin to think what your must-haves are and what you can live without.  You may need to make some compromises.

Average prices have come up from January and from last year. This is still primarily in the mid to lower price points.  Higher end will take another 12-18 months to begin to see significant price appreciation.

Sellers – get your house on the market soon if you’re thinking of selling.  Have it totally spiffed up and ready to go – you’ll appeal to buyers desperate for their dream home!

Gretchen Faber writes LifeStyle Denver and has been selling homes in Denver since 1996. There isn’t a neighborhood in Denver that Gretchen hasn’t shown in or sold a house in!

This entry was posted on Monday, March 15th, 2010 at 8:24 pm and is filed under Market Trends. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Data Recovery Specialists said at March 26th, 2010 at 12:51 pm

   that sounds like denver is still on the mend, i hope the market continues to level out.

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