The Denver real estate market continues with mixed results depending on area and price range. August “under-contract” residential and condo sales declined from the previous August by 6.5% according to statistics released by Metrolist, the local MLS reporting agency.
However, resale homes available to sale on the market also declined in the same period by 2.64% suggesting less supply. And, sold prices actually increased by 1.88% in the same year over year period. Prices of sold homes increased even more in southeast Denver by 2.95%.
Some neighborhoods on the south side of Denver and in the south suburbs actually had no foreclosures. Neighborhoods north and east tended to sell for less, take longer to sell and have more foreclosures.
My firm, The Kentwood Company, sells mostly in the southeast neighborhood. Sales in the company are up 6% year over year through August, 2007