Market Update - March 2009

We continue to see improvement in the Denver market and numerous signs that many neighborhoods and the market as a whole are on the move. Several areas that suffered significantly over the last few years (e.g. Aurora North, Montbello) are seeing consistent and significant investor activity. Established neighborhoods (e.g. Highlands, Park Hill) continue to see stability and price stability or improvement.

Recent press articles have ranked Denver the city most people would like to move to, the best real estate market in the country and one of the markets most likely to lead us out of the current real estate malaise. Inventory levels remain relatively low, days on market is improving in most areas, interest rates remain low and the first home buyer's tax credit should drive more buyers into our market during summer.

Overall, this creates a market that still offers opportunities for first home buyers looking for good prices, sellers looking to get a fair price, investors looking for long-term investments or fix and flips. Ultimately, there is opportunity for everyone as, although the market leans slightly in the buyer's favor, most neighborhoods have not seen significant prices drops. Most motivated sales still involve banks (e.g. lender owned, short sale) and well marketed and priced homes still sell in realistic timeframes.

If you'd like assistance taking advantage of the opportunities in the Denver market, or to get an idea of what's happening in your home's market, we'd love to help you.

Contact us