Which Price Point is Selling in the Denver-area?
According to a recent article in the Denver Business Journal, Denver County had more sales (7,482 closed sales) of single-family homes in 2009 than any other Denver-area county. What sold in Denver County last year? Over one-third of Denver County’s sold homes were considered “affordable homes,” priced in the $100,000-$200,000 price range, while 21 percent of the sold homes were “move-up homes,” priced in the $200,000-$300,000 range.
This trend was also evident in two other Denver-area counties – 37 percent of sold Arapahoe County homes were in the “affordable” $100,000-$200,000 range, while close to half of sold Adams County homes fell into this range.
The $200,000-$300,000 price range, considered to be a “move-up” price, was the most popular range in Jefferson County, Douglas County and Broomfield County. The most homes sold in Boulder last year fell into the $300,000-$500,000 range, although the area has considerably higher prices than other Denver-area communities.
The popularity of the lower price point is likely due to the first-time homebuyer credit that provides up to $8,000 to first-time buyers, and it was recently expanded to move-up buyers. This trend is in line with what we have been seeing with our new clients and inquiries. If you are a first-time homebuyer, or move-up buyer in the Denver real estate market, do not miss this opportunity. For information on Denver homes, please contact TeamCox Realtors at 303-400-6060.
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If you are looking for a home in Denver and the surrounding area then contact TeamCox for professional Real Estate Assistance