Denver CO. Home Prices Increase

According to the most recent S&P Case-Shiller Home Price Index report, Denver residential real estate inched up in December 2009 over December of 2008 by 1.2 percent.  Denver shared the honors with 6 of the 20 cities examined in the S&P Case-Shiller Index that actually showed a year-over-year home price increase.

On the other hand, Denver home prices slipped in month-over-month comparisons.  Home prices dropped in December of 2009 from November of 2009 by a 0.8 percent.  This follows slight month-over-month drops in the fall months of September, October and November.  Prior to the fall slide, Denver posted 6 straight months of month-over-month home price increases according to S&P Case- Shiller reports.

Click here to read the S&P Case-Shiller report in its entirety.

Michelle A. Potter, Denver REALTOR
The Berkshire Group, REALTORS
303-489-4035

Case-Shiller Index: Denver home prices show annual increase for 1st time in 3 years: For the first time in three years, home prices in the Denver area showed a year-over-year increase in the latest S&P/Case-Shiller Home Prices Index. read more here

Colorado Foreclosure Sales Down 4% in 2009; Fewer Filings Lead to Sales: There were 20,437 home foreclosures completed in Colorado in 2009, down 4.1 percent from 2008’s total and down 18.4 percent from the peak year of 2007, the state’s Division of Housing reported February 4^th. read more here

Commercial Real Estate Looking Up: Metro Denver’s commercial real estate market ended 2009 still hurting from turmoil in the financial markets and job losses — but key indicators say it hit bottom last year and is now poised for a slow recovery, according to a new report by CB Richard Ellis Inc. read more here

Metro Denver EDC Releases 2010 Economic Forecast: Denver Economic Development Corporation (Metro Denver EDC) presented the 2010 Economic Forecast for Metro Denver at Vectra Bank’s 17th Annual Economic Forecast Breakfast. Metro Denver’s economy fared better than many regions through the early months of recession. While employers in the seven-county region cut jobs at certain points in early 2008, the region also added net new jobs through the first three quarters of 2008. read more here

Colorado Springs Named #1 Best City: Outside Magazine named Colorado Springs the #1 Best City in America, based on the city’s cultural vibrancy, economic well-being, and overall quality of life. read more here

Powder Back in Snow Show as Industry Expo to Open in Colorado: Denver went to Las Vegas and beat the house, winning a major convention that yields its first financial jackpot at the end of January. The Snow Show, a high-powered annual gathering of ski-equipment and apparel representatives, is expected to inject at least $330 million into the local economy over its scheduled 11-year run in Denver. read more here

Homebuilders See Resurgence in Smaller Simple Product: Shea Homes Colorado is rolling out its first new community at Reunion in four years. The homebuilder is using the Commerce City development as the local launching pad for a smaller, simpler product designed to appeal to younger, more mobile buyers. read more here

Denver One of Top Cities Where it’s Smarter to Buy: For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities, per Forbes magazine. read more here  

Thank you to Jim Renshaw of Land Title for compiling this Denver real estate news.

Michelle A. Potter, Denver REALTOR
The Berkshire Group, REALTORS
303-489-4035

Click on Map for Most Recent Metrolist Real Estate Statistics

Click Here for Total MLS Sales Statistics

An Overview of the entire Denver MLS Market Statistics:

Thank you to Jim Renshaw at Land Title Guarantee Company for compiling the Denver market stats.

Michelle Potter, Denver REALTOR
The Berkshire Group REALTORS
303-489-4035

Denver Among Top US Cities for 2009 Home-Value Gain: Metro Denver had the third-largest gain in home values among cities nationwide in 2009 through November, with a $10.7 billion increase, according to Zillow Real Estate Market Reports.  read more here

Juju: Colorado, Denver Among Nation’s Best Places to Find a Job: Denver is America’s eighth-best city for job seekers, and Colorado ranks No. 8 among the states, according to job search engine Juju.com.  read more here

Jabs brings back American Furniture Warehouse to Grand Junction: American Furniture Warehouse is returning to Grand Junction. The Evergreen-based furniture store plans to open its 13th Colorado location on 20 acres. The store closed on the last two parcels of four parcels on the property on Thursday. The price of all four parcels together was about $9.9 million. read more here

Colorado Stocks Enjoyed Big Rebound in 2009: Colorado stock performance improved starkly over 2008, powered by federal stimulus funding and improved market confidence that resisted the notion that another depression loomed, analysts say. read more here 

Rates on 30-Year Home Loans Fall to 5.09 Percent: WASHINGTON (AP) – Rates for 30-year home loans inched downward this week, the first decline in a month, but remained above last month’s record lows.   read more here

Vinyl Toy Company Kidrobot to Make Boulder its Home: Kidrobot, a New York-based company known for its limited-edition vinyl toys and apparel, is moving its headquarters to Boulder. Paul Budnitz, the company’s founder and president, said that Kidrobot hopes to have the head office operational in Boulder by March or April.   read more here

General Dynamics Opens Colorado Data Center; 100 Jobs Expected: A unit of giant defense contractor General Dynamics Corp. has opened a data center in Westminster to support its work for the Department of Homeland Security. read more here

Jim Renshaw
Land Title
Guest Blogger

Click on Map for Most Recent Metrolist Real Estate Statistics

Click Here for Total MLS Sales Statistics

Thank you to Jim Renshaw at Land Title Guarantee Company for compiling the Denver market stats.

Michelle A. Potter
Denver Realtor
The Berkshire Group, Realtors
303-489-4035

The Denver residential real estate market showed an uptick in average home sales prices in December of 2009 in comparison with December of 2008.  According to data released by the Denver Metrolist Inc. (MLS), prices increased during this year-over-year time period to the tune of 17%.

To read more about Denver residential real estate market conditions, you might like:

Denver Market Condition Extremes

Thank you to the Berkshire Group Realtors for providing the information for this update.

Michelle A. Potter, Denver Realtor
The Berkshire Group
303-489-4035

Blessed is the season which engages the whole world in a conspiracy of love!

~Hamilton Wright Mabie

Wishing you a holiday season filled with peace, health and happiness.

Michelle

Colorado Mortgage Rates Sink to 4.54%: Colorado home mortgage rates continue to sink this week, reaching 4.54 percent on a 30-year fixed loan Wednesday, according to Zillow Mortgage Marketplace. read more here

Kiewit Named Contractor for Denver Zoo’s $50M Asian Tropics Exhibit: The Denver Zoo said Monday it has selected Kiewit Building Group from among five bidders as general contractor for the zoo’s 10-acre Asian Tropics exhibit, the largest exhibit in its 113-year history.read more here

Colorado Unemployment at 6.9% in October, 3rd Straight Decline: Colorado’s unemployment rate fell slightly to 6.9 percent in October, the third consecutive monthly decline in joblessness and the lowest rate since January, the Colorado Department of Labor and Employment said November 20th. read more here

Realtors: Existing-Home Sales Rise in West, but Less than National Rate: Home resales in Colorado and other western states rose 1.6 percent in October from the previous month and are up 12 percent from a year earlier, the National Association of Realtors reported November 23rd. read more here

Region’s Cities Among Nation’s Best Performing: Northern Colorado ranked high in the nation and at the top for Colorado in the 2009 Best-Performing Cities index.read more here

Company Announcements Help Establish Base for Job Growth in Metro Denver: In Metro Denver, numerous company announcements over the past several months reflect the region’s strong business climate – even during recession – and will help establish a base for job growth as conditions improve, according to data compiled by the Metro Denver Economic Development Corporation (Metro Denver EDC) in its Monthly Economic Summary for November 2009.read more here

New Home Sales Rise in October: New home sales rose 6.2 percent in October compared to September, according to a report released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This increase was 5.1 percent above the October 2008 level.read more here

Michelle A. Potter, Denver Realtor

Here is another assessment of the Denver real estate market conditions for November of this year:

Thank you to Jim Renshaw at Land Title for compiling these Denver real estate statistics.

Michelle A. Potter
Denver Realtor
RE/MAX Professionals