Denver Real Estate Blog

The median price of a single-family home in the metro area fell 8 percent in January

The reports showed that the average price of a single-family home sold in January fell 5.4 percent to $281,203 from $297,368 in January 2007. The median price of a single- family home fell about 8 percent, to $216,950 from $236,000. On the bright side, 4,550 homes were placed under contract in January, compared with 4,292 in January 2007. About 80 percent of the homes sold last month were priced at less than $300,000 as the record number of foreclosures drive down the average median price while homes priced at $500,000and above barely moved.

What about New Construction?

New housing sales and starts in the Denver area fell by about a third in 2007 from 2006. It was the market’s worst performance in the seven years since Houston-based Metrostudy began tracking the Denver area market. There was a total of 10,135 housing starts in 2007, a 36 percent drop from 2006.
It’s likely that 2007 was the worst year for home builders in the metro area since Denver’s economy crashed in the late 1980s, said John Covert, who heads the Denver office for Metrostudy, a national housing tracking and consulting company. “Basically, last year was the worst year in 20 years,” Covert said.

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Jeffery McClintock, is a real estate broker in Denver and prides himself on providing clients with professional guidance in all phases of residential new construction, including market research, product development, consulting, marketing and advertising. His personal mission is to bring to you a level of knowledge, experience, commitment, high standards and results to answer your real estate needs. He believes, the most effective way to provide superior service is to build a strong working relationship with you. His system includes regular consultations and feedback, which is the best tool for identifying and clarifying your real estate objectives and help define strategic solutions.

Jeffery has been a licensed Realtor since 1995. During this time he has successfully closed over 135 million dollars of residential real estate, and 40 million dollars in un-improved land amounting to 660 individual real estate transactions. His professional experience includes the Denver Colorado front range and the Second Home market in Breckenridge, Colorado located in Summit County.