How is the Denver real estate market faring this summer? It really depends on the price range that you are looking at – the lower end is much more robust than the higher end. We are optimistic about the Denver housing market, especially for homes priced to receive offers at the maximum FHA loan limit of $417K and under. This conclusion is not only based on what we are observing, but on the many articles published in the paper supporting that this price range has bottomed out.
The market is still sluggish for homes requiring conventional loans over the FHA loan limit of $417K, but we hope that it will open up as the overall market improves. The inventory of homes falling into this category (400s and up) is much higher than lower-priced homes.
In the current market, homes must be well-presented, and be correctly priced to be competitive. This trend will continue into the fall and winter months. Looking ahead to 2010, we anticipate the market to pick up, and for home appreciation to occur in certain price ranges, as housing inventory continues to decline.
For information on the Denver real estate market, please contact TeamCox Realtors – your Denver real estate specialists – at 303-400-6060.
If you are looking for a home in Denver and the surrounding area then contact TeamCox for professional Real Estate Assistance