Denver Real Estate market best in country!

Denver Real Estate market best in country!

Check out this great article about the Denver Real Estate Market!

Denver fares best in home-price survey

U.S. home prices down 18%
By Margaret Jackson
The Denver Post

For the second consecutive month, the Denver area fared the best among 20 U.S. cities reporting drops in home prices, according to data released Tuesday.

The Standard & Poor's/ Case-Shiller home-price index for 20 major cities dropped 18.1 percent in April compared with April 2008.

Denver reported a 4.9 percent decline, better than Dallas and Boston, which were down 5 percent and 7.7 percent, respectively.

"This was the least painful decline in the last six or seven months," said economist Jeff Thredgold of Vectra Bank Colorado. "There is still some additional weakness to come, but most of the pain is behind us."

Las Vegas and Phoenix posted the largest monthly and annual declines, plunging 35.3 percent and 32.2 percent,

Home Prices

  • Explore home prices and sales in your neighborhood with The Post's database.
respectively, in the year-over-year data. San Francisco declined 28 percent.

"The sexy places to buy real estate from 2003 to 2006 are the ones that are getting crushed," Thredgold said. "There was no big boom in Denver prices, hence no major correction."

Denver is among eight cities that reported a month-over- month gain in prices, rising 1.5 percent compared with May. Dallas posted a larger gain at 1.7 percent.

"Seeing the recent numbers from the Case-Shiller report has given some credence to what we have been feeling in the market in Denver," said Dee Chirafisi of Kentwood City Properties. "Denver has been named one of the five best cities as far as real-estate recovery and the five best places to live, etc.

"There has been a lot of recent optimism about how great Denver is and how it is still a good place to buy real estate. It is terrific to see that this news is backed up with some real statistics."

Gretchen Faber, broker/manager of the Kentwood Co. Cherry Creek, said the numbers also reflect what's happening in her office.

For the first time in months, Faber said, homes in Denver's Park Hill neighborhood sold for more than $800,000 — two of them for more than $1 million — during April and May.

"Three or four months ago, the lower price ranges started getting on fire," Faber said. "We are starting to see it trickle up into the higher price ranges. They still have to be priced appropriately or they're not going to sell because there's still a lot of inventory in the high end."

Margaret Jackson: 303-954-1473 or

No comments have yet been submitted for this entry.

Join the conversation by filling out the form below.

Your email address will not be displayed.

Contact Information

Photo of Roberts (Bobby) Johnson Real Estate
Roberts (Bobby) Johnson
Cool Denver Homes, Inc.
2314 Curtis Street
Denver CO 80205
Roberts Cell: (303) 525-7599
Fax: (303)9635335

Providing Real Estate Solutions Every Day!