Housing Trends in Denver, Colorado
After three years of negative growth in appreciation, housing stocks in Denver posted positive growth in 2010, climbing 0.12%. This placed the Denver-Aurora area in the 74th percentile in terms of house price appreciation, meaning that 73% of major markets performed worse during the 2010 calendar year.
These numbers are not overly impressive, considering that Denver posted double-digit appreciation increases in both 1999 and 2000. Still, given the ongoing economic problems in Colorado and the rest of the country, these results are encouraging and mean that Denver may have pulled out of the price slump that affected much of the nation from 2007 to 2009.
In terms of housing stocks, Denver had about three times as many houses as condominiums on the market in December of 2010. Completed sales of condominiums in the same month hovered around 25% of house sales, however, suggesting that those moving to Denver or changing residence in the city may prefer single family homes. These figures represent the latest data available for real estate in the region, since it takes some months to collect and assemble information from many different sources.
Since Denver homes appear to be rising above the recent economic turmoil to recover their previous values, this may be a good time to invest in the market. Historic homes in the area are particularly resistant to large declines in value and are often at a premium due to their scarcity.
