When people ask me “How’s the market”, the past few years have required me to get into more neighborhood specific information. In the Denver Metro area, we have found that some neighborhoods had prices falling, some were stable and others were showing price increases. Most articles that are written and delivered over to the general public are nation wide in scope. Rarely will we find area specific information targeted to the Denver Metro housing market.
I have been working with clients using neighborhood statistics that are updated quarterly that really reflect what is happening in the neighborhood they are investing, buying or selling in. It is not enough to generalize and lump everything into the same basket. Property owners and buyers need neighborhood specific information that is current to make their decisions. Don’t believe everything you see in the media. Below is a link regarding median price and how that is different from some other statistics you maybe hearing about.
http://realtytimes.com/rtpages/20100302_medianprice.htm
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