Denver Real Estate Blog

The fourth-quarter data from the National Association of Realtors underscore the breadth of the housing market’s slump.

The Denver-area home market saw modest declines in prices and closings in the fourth quarter and for the entire year but was nowhere near as bad as many other markets across the country.

There were 49,789 closings in 2007, down slightly from 50,244 closings in 2006. In the fourth quarter, there were 10,549 closings in 2007, down from 10,802 in 2006 and 11,592 in 2005.The median price of a home sold in the Denver area last year fell to $229,500 from $240,000 in 2006, a 4.4 percent drop.

Mortgage lenders, would-be home buyers and Wall Street investors have been grappling during the past year with the impact of rising defaults, the result of lax lending standards that were prevalent during this decade’s housing boom.

The states suffering the biggest drop in sales in the fourth quarter were Nevada, down 44 percent, and Wyoming, down 42 percent. Other states with big declines were New Mexico, down 39 percent, Oregon, down 38 percent, and Arizona, down 37.6 percent. South Dakota was the lone state to show a sales increase.

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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.