Denver Business Journal - by Paula Moore
Sales and selling prices of existing homes in metro Denver improved
again in February, showing that the housing market continues to slowly
recover, according to local real estate brokers.
Highlights of last month’s home sales included an increase in sales
of $1 million-plus homes, a 20 percent jump in the average selling
price for condos and a 15 percent rise in median sold price for houses.
Housing-information provider Metrolist Inc.
of Greenwood Village released home-resale data Tuesday. The figures are
for sales of existing homes that have been sold at least once before.
“All in all, we’re showing signs of a strengthening housing market,” said Gretchen Faber, broker/manager at The Kentwood Co.
at Cherry Creek and Metrolist analyst. “There’s not as much volatility
in the housing market as there was a year or a year-and-a-half ago.”
“Denver is coming out of the recession a little faster than everyone
else. … People are out looking at and buying homes, looking at the
affordability factor and marketability factor,” said Gary Bauer, an
independent residential real estate broker in Littleton and Metrolist
analyst.
Bauer added that such shoppers largely include first-time
homebuyers, who can take advantage of the federal government’s $8,000
tax credit for such buyers for homes that close by June, as well as
investors with cash.
Sales of high-end, $1 million-plus homes increased to 36 in February
(34 existing houses and two condos) from 19 (16 houses and three
condos) for the same month of 2009, according to Metrolist data.
