Denver Real Estate Market Starting to Recover

The Denver Post, in a October 8, 2008, article points to data indicating an improvement in the Denver residential resale market. Recently released data, The Post says, reveals a 14.1 percent increase in homes sold in September 2008 compared to September 2007, with an inventory decline of unsold homes of 21.1 percent from the prior year. Read more here...

Most Denver area real estate brokers who we have interviewed say that their business is seeing the same increase that coincides with the data. Home sellers are finally reducing their home prices to the point that buyers and investors are seeing a value proposition they cannot resist.

First-time home buyers are moving into the market after several years of pent-up demand is being released. Homes in the under $250,000 price range only have a 2.5 month inventory. Any number under 6 months shows that we are in a seller's market, a shift from the several years of a buyer's market.

Don Nelson, a real estate broker with Keller Williams Realty Professionals, tells this writer that the foreclosure inventory in this same price range has significantly decreased. Don works with a number of investors to acquire discounted bank-owned foreclosures, remodel them, and resell the finished homes to investors or buyers.

See our website at http://www.coloradoprorealestate.com/ .