16th Dec, 2008

Denver Real Estate in Good Position

According to business website MarketWatch, Metro Denver Colorado real estate is rated second in the nation for places for businesses.  Thriving small businesses running from real estate in Denver performed especially well.  Investors, too, will be encouraged to know that average sales prices for Metro Denver CO real estate are under the 2007 prices.  Now buyers need to decide the best point to purchase Denver properties before the prices begin to climb.

Realtor.org says, “Areas with affordable housing and healthy local economies continue to see price growth.”  One indication of a positive economic health now and coming up on the horizon is the growing population.  People are steadily moving into Denver homes.  In fact, the population in Colorado is hovering around 5 million now.  It is predicted to reach over 6 million by 2020.

Metro Denver also added 3,800 jobs between July and August 2008.  The state’s job growth in August 2008, according to Metro Brokers Real Estate Adviser, was 1.6 percent.  The average job growth for the entire nation during the same period of time was only 0.2 percent.  In addition, the state’s unemployment rate during September 2008 was down 0.2 percent from the August figure of 5.4 percent, according to the Denver Post.

And housing in the area is more affordable at low interest rates and more attainable than it has been in quite awhile.  As long as home sales remain somewhat sluggish, real estate prices will be within reach for many who could not afford the previous market activity.  According to the S&P/Case-Shiller Home Price Indices, the string of positive returning months ended in August.

Median sales prices for existing single-family homes in the area are down about 11.8 percent from last year.  The Denver-Aurora median prices since second quarter 2007 look like this each quarter:  $255,200, $254,100, $230,100, $223,500, and $225,200 for second quarter 2008.  Additional factors like inventory will also affect future prices.  Inventory has gone down 2.9 August and September 2008 according to Metrolist data.

As the state capital, the Mile High City is the queen of the Front Range cities.  Its eclectic mix of communities offer something for everyone—from wonderful horse ranches to urban lofts to residential suburbs and master-planned communities and revitalized real estate in popular areas close to downtown.  It is located an hour or two from recreation and world-class ski resorts in the Rocky Mountains and boasts a new international airport.

For more information about farms, horse properties, and real estate in the greater metro area, call Michael Paul of Realty Oasis at (303) 268-6052.

Aurora CO homes for sale

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