Denver, CO, April 12, 2010

So, is it a recession or not?  Is the economy getting better or not?  Is the housing market looking better or worse?

With so many varied reports from around the nation, it is hard to make sense of it all.  Unfortunately, when watching many news shows, they report overall averages for the country, or maybe just those in their immediate area.  When it comes to the housing market, the outlook can vary greatly from state to local markets.  In fact, it may even vary from neighborhood to neighborhood.

Locally, the Denver-Metro area saw a 9.3% increase in the average sold price of homes in the Denver Metrolist, March ’10 over March ’09.  Condo sold prices went up as well by 4%.   Both single-family homes and condos also had an increase in the number of homes sold and a decrease of average days on the market.


This would mean that it looks like a great time to sell in the Denver-Metro area…right?!


Well, let’s take a look at homes sold in western Douglas County (includes – Castle Rock, Larkspur, Sedalia, Palmer Lake, part of Littleton).  There was a -19.3% change in average sold price, and the number of homes sold went up and the average days on the market went down.  Condos in this area went up 5.2% in average sold price, the number of homes increased, but the average days on the market went up slightly.

Now, let’s look at central Douglas County and Lone Tree (includes – Highlands Ranch, Lone Tree).  They saw a relatively flat average sold price, an increase in number of homes sold, as well as a slight increase in days on the market.  Their condo market saw a -4.8% change in average sold price, with an increase in number of homes sold, and a larger decrease of days on the market.

Wow!  Quite a different view from area to area.  These variations can also be seen from subdivision and condo complex within a neighborhood.  The whole picture can be quite exhausting to figure out if you are thinking of buying or selling a home.

My best advice to anyone thinking of buying or selling a home today is to get help!  In Colorado, home sellers pay all Realtor’s fees, so there is no cost to buyers for hiring a Realtor to advocate their best interests.  As for sellers, with such a confusing market arena, why wouldn’t you want to have someone out there helping you to get the most out of your home sale?

Don’t go it alone in your home purchase or sale.  With the Denver market looking so different from area to area, hiring a professional is your best bet!