From the Denver Post:
Denver's existing-home market held up fairly well last year compared with 2006, and experts are predicting this year will be similar.
The number of home sales that closed last year was down less than 1 percent to 49,789 compared with 2006, according to data released Tuesday. The number of homes put under contract was down 0.1 percent to 61,663. Not all homes that are put under contract wind up closing, and, in many cases, deals fell through because buyers could not get financing or couldn't sell their existing homes.
Median prices for single-family homes dipped 1.96 percent to $245,000. Condos didn't fare as well, with prices dropping 4.46 percent to $150,000.
"With the condo market, I think it has a lot to do with home owners association dues," said Mike Cox, a broker with Re/Max Professionals Inc. "That's not a number that's figured into the purchase, but it affects the buyer when it comes to their monthly payment. When things get tougher, people go to a need-based mentality. They need the bathroom and the bedroom, but the swimming pool doesn't carry a whole lot of value."
The number of homes on the market in December was up 0.3 percent to 24,603, compared with the same month a year ago, but was down 9.3 percent from November.
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