In a word, “yes.” Now is most definitely a good time to buy real estate in Denver. I remember Denver’s real estate bust in the 1980’s. I wasn’t living here at the time, but I’d come home to visit and see that I could buy a condo in Denver for less than I paid for my car. (Well, less than the average person paid for the average car. I don’t think my ride at the time was worth a whole ... Read More

So I’m sure at least some of you were reading yesterday’s post about the Denver real estate rebound, and kinda got stuck at the part about the average home price dropping 14.8% in the past year. "Did my house drop 14.8%?" Don’t panic. It probably didn’t. Heck, it may have even increased in value. It all depends on where you live. All real estate is local. Not just “local” as in “city.” “Local” as in “neighborhood.” When you average the ... Read More

Just as a postscript to the last post – the figures above are for single family homes. The condo market’s rebound looks even more dramatic. Inventory is down nearly 26%, days on market is down 3%, and months’ supply is down over 33%. And the prices have “only” dropped 11% average price, 5.5% median price. (I know – it’s a lot of money when it’s your money!) Sales are up 11%, and units under contract is up ... Read More

Everywhere I turn, I hear that the Denver market has turned and is poised for a rebound. (See the SmartMoney entry below.) Great news. But I wanted to see exactly where all of this optimism was coming from. So I started digging into the numbers. The numbers look very, very good. From September 2007 to September 2008, inventory (the number of homes on the market), dropped nearly 20%. The number of houses sold increased 15%. The average days a home is on ... Read More