The Get Home Denver Team

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For Denver area Real Estate, the number of unsold homes in September dropped to the lowest level since December 2005 and the number of homes placed under contract jumped almost 22 percent from September 2007, the best September for sales in three years.

The average and median sale prices of homes, meanwhile, have fallen back to 2002 levels.

Certainly we’re not out of the woods yet, but this data continues to confirm our belief that the end of this down cycle is near!  My 17 years of experience have been telling me for months that we are in recovery mode.  Since March of this year, the Denver market has actually seen appreciation.  Less than 1%, but it’s certainly better than depreciating at 3%-5% per month like some other markets!