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September 2010 Market Statistics for North Metro Denver

by nancy
October 7, 2010
Category:   Buyers, Real Estate, Renters

The statistics for this part of North Metro Denver include the cities of Westminster, Thornton and Northglenn. People that are unfamiliar with this part of town may not know the subtle differences between the East and West side of I-25. Over the years, the west side of the freeway has always had a little higher price point than homes on the east side. As the homes go up in price, this difference always becomes more dramatic.

It is hard to know what makes the west side more valuable but there are great views of the mountains, lovely parks with hiking trails, a community college, plenty of shopping and some great golf courses. Looking at the statistics, it is easy to see where the government stimulus started and the dramatic decrease in sales once it was over.

The absorption rate for homes has dramatically increased for homes which seems to be trending towards a buyers market right now. With even lower interest rates than last year, it is a great time for buyers who are renting or moving into the area to get serious about purchasing a home.

There have been fewer homes purchased so far this year and this puts pressure on homeowners who are thinking of selling their home to get it in top shape to keep up with the competition as well as making the price they offer their home for as competitive as they can make it. There are not that many homes coming up for sale on the market. The problem is that the sales have not been as strong as when the buyer incentive was started last year.

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