New Report Reveals that the Denver Real Estate Market Held Steady in 2007

While the monthly release of Metrolist’s data pertaining to the Denver real estate market hasn’t been a particularly enjoyable event in recent months, the January 8th report was a pleasant surprise. Don’t get me wrong, the bells and whistles are still in the drawer but the report resonates that the Denver real estate market is still holding its own in a tumultuous national real estate market.

There were some sour spots in the recent Metrolist data as Denver condos posted a 4.5% price decrease in 2007 with the median price dipping to $150,000.

While 2008 isn’t likely to produce a booming Denver real estate market, it will be fairly stable in contrast to other parts of the country that have seen more significant price gains in the past few years. For more information on the Denver housing market, please contact TeamCox Realtors.

While the national media is constantly reporting of significant declines in property values, the Denver metro area saw home sales decrease less than one percent from 2006 to 2007. In addition, the Rocky Mountain News reports that the median single-family home price declined two percent last year, decreasing from $249,900 to $245,000. These numbers just aren’t so bad considering all of the negative real estate stories that have hogged the news headlines recently.

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