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

Comments

1. 

   Jim Wineinger Reply
   over 2 years ago

   There is something to say about special "retreat" or "resort" areas.

   But if things continue to slide there will be an affect there also.

2. 

   Bill Gulley Reply
   over 2 years ago

   Those with discreationary funds now are in a position to take advantage of unique opportunities to acquire upper-end retreats and step up to homes in resort areas. This is not surprising to me at all since all the real estate in Denver is higher than the national average! Bill

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