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Prices are good.  Interest rates are great but edging upwards.  According to Paula Moore’s article in the Denver Business Journal on June 8, 2009, the highest average selling prices for real estate in Denver are $527,216 in the Boulder plains area and $663,311 for homes within the Boulder city limits.  The lowest average prices for single-family homes in the Denver metro area rang up in southern Aurora at $92,230, the mountain area of southern Jefferson County at $147,125, and near the Denver International Airport at $152,204.

With the excellent interest rates and the ability to refinance, some people are choosing to upgrade their homes by adding more rooms.  Some are remodeling.  Yet there are families who are choosing to add more acreage and a couple of horses for their children or for a mid-life diversion.

Horses enjoy an evolutionary niche as grazing animals that herd together for mutual protection.  They are quite social and love the horse circuit in the Mile High City as much as their owners do.  One larger property, suitable for several horses, would make them smile.  A smaller property under five acres would be fine for one horse—as long as someone in the family will fulfill the social need.

Horse properties are marvelous buffers from the hustle-bustle of life.  We can steer you towards a number of properties in great school districts located less than 20 minutes from business parks or the downtown metro area.  As the city expands, these choice properties with present covenants allowing horses could face redevelopment or rezoning if horse lovers resist them.

There are small ranchettes on less than five acres and larger ranches with hundreds of acres to roam.  No matter the size, the peaceful equestrian oasis promises to offer residents a world just a canter away from stress and a trot from equestrian heaven.  All while supplies last.

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

Data released by Denver’s Multiple Listing Service, Metrolist Inc., zeroed in on the resale market versus the new-home sales.  During September, the report counted 4,265 sales in the resale category—up 14.13 percent from last year at that time.  This was great news after the lower-than-usual figures posted for the normally vigorous month of August.  August prices were flat—a story echoed in other U.S. cities and communities.  Sales for existing Denver Colorado homes have still been down during the first three quarters of this year as compared with the same time period in 2007.

What do buyers consider to be well priced?  Take a look at the median selling prices to draw your own conclusions.  The median selling price for single-family homes fell to $216,150, down from $245,000 last year.  For condos, it is $139,900 versus $148,000 last year.  A median price is like grading on the curve in the classroom.  When we list the prices top to bottom, the median price will be the middle price.

Average prices are different.  To compute the average selling price, we add up all of the prices and divide by the number of homes sold.  Because one very expensive home can skew the number dramatically, the median price usually more accurately reflects the trends.

The average selling price for single family homes in September was $260,118 and for condos it was $161,960.  According to Metrolist a fourth of the homes sold in the $200s along with condos in the $110,000 to $150,000 price range.

How long does it take a seller to move a home?  In 2007 and 2008, the average number of days on the market has been just over 100.  But as the inventory decreases, sellers may find that homes start moving a little more quickly.  About 24,000 unsold homes remain on the market this year versus over 30,000 last year. 

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