Denver's September housing continued its downward trend with fewer houses purchased, fewer houses on the market, and declines in prices. Builder inventory is still high as are foreclosure properties, great conditions for buyers thinking about purchasing now. Yes, it's still a buyer's market in Denver and should continue to be favorable for buyers for the foreseeable future, at least into fall of 2008, perhaps longer.
Median house prices dropped in September to $245,000, 4.6 percent lower than August's $258,000, but 1.1 percent higher than $243,500 in September of 2006. The number of houses sold in September was down by 25.74% from August, a precipitous drop. Condos and townhomes sales dropped 24.18% from August. The average price of homes was down from August by 7.38 percent, while condo prices dropped less than 1 percent.