Realtor Judith Clausen says, "Denver's an exciting place to live. Winter, summer, spring or fall -- there's always something to do in the Denver area. Cultural amenities include the Denver Center for the Performing Arts which houses the Colorado Ballet, the Denver Symphony, and the Denver Center Theater. Art galleries, the Denver Museum of Science and Nature, over 90 golf courses, sophisticated shopping centers, the Denver Zoo -- the list goes on and on. Denver is a large urban area close at hand to some of the most beautiful country in the U.S. Ski areas are just hours away. Fly fishing, hiking, mountain climbing and much more offer spring, summer and fall recreation in the nearby Rocky Mountains. Quality of life in the Denver area is its biggest draw."
She continues, "September's home buying activity in Denver reflected a seasonal slowdown, but so far in 2005 more homes have sold than at the same point in 2004. Prices were down too. The price of an average home in the Denver area dropped from $313,308 in August to $308,472. But prices were higher than last year by almost 6 percent. That may not continue, with prices going up in everything from energy to building costs. It will cost more to buy a builder home, and with fewer homes on the market (depending on the number of homebuyers ready to buy) we could see a change from a buyer's market to a seller's market as interest rates begin to increase."
"Homes are selling at about 97-98 percent of list price in many of Denver's most desired neighborhoods. But bargains are still available. One of my clients recently closed on a house at 90 percent of asking price. The seller had purchased a house in foreclosure planning to fix and flip. We made an offer before the fixup, since she planned to fix it up herself. The plum location made it a bargain for my buyer. She turned around and sold the home she was currently living in for well above market value, making the new purchase easy. Another of my clients saw an opportunity in a highly desirable location when a rookie agent listed a house at well below what homes in the area were selling for, saved themselves $7,000 and got a great house in the bargain."
Realtors Tony and Cynthia Anderson say, "For Denver the days on Market are 70-120 days. The prices continue to be unchanged. Although you will notice that listing price can change from the sold price. In Denver concessions are being given to buyers in this competitive market, which is good for buyers right now to buy homes. It can be advantageous to both the buyer and seller in the this market. Whether upsizing or downsizing it can be good for buyers right now because they will be able to negotiate on price and ask for down payment assistance or closing cost to be paid by sellers if needed. It is still a buyers market in the Denver Metro Area with the large inventory to choose from. We are seeing a lot of relocations, investors, upsizing and downsizing occurring in Denver right now."
