BiggerPockets

Home prices fall nationally, but rise in Denver

Tuesday, November 03

  

The national median existing-home price for all housing types was $174,900 in September, which is 8.5 percent lower than September 2008.

But Denver was bucked that downward trend last month.

The median price of a single-family home sold in September was $225,000, 4 percent higher than the $216,150 in September 2008,  according to an earlier report by independent broker Gary Bauer. And the median price of a condo sold in September in the Denver area was $145,000, 3.645 percent higher than the $139,900 in September 2008.

Nationally, distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area, according to NAR.

In Denver, move-up buyers are starting to return to the market, Bauer and other experts say. In addition, bidding wars are erupting for lower-end homes on a regular basis, which also drives up the overall prices

Article by John Rebchook at InsideRealEstateNews.com

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Tuesday, November 03

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