Comparing 2007 to 2008, the average home price across the metro dropped 13%, to $267,000: a 13% decrease. Comparing the 1Q of 2008 ($271,000) to 1Q 2009 ($241,000), we saw an additional 11% drop. 2Q looked much better, only a 5% drop. As with many of the national headlines, things may still be getting worse, but the pace of the decline has slowed significantly.
While it’s certainly too soon to call it a trend, we noticed that the average sales price in MLS region AUN (Aurora North) and DSW (Southwest Denver) increased in June. After significant declines in 2006 and 2007, prices were generally stable in 2008. Prices are now edging upwards in these distressed areas!
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