Denver Colorado New Home Average Sales Price Trends

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 17, 2009 -- In a recent housing report released by Home Builders Research Colorado, based in Denver, new home sales in all major housing markets along the Colorado Front Range are still lagging the sales pace set a year ago.

David Laffoon, president of Home Builders Research Colorado, reported that "the reduction in new home sales over the past year has had an impact on the average and median new home prices in the Front Range housing markets." According to Laffoon, over the past year new home sales in Colorado Springs and El Paso County are down about 27% from the year before. In a similar comparison for the Denver Metro area and Northern Colorado, Laffoon added "new home sales recorded in the same period were down in the 33% range from a year ago."

The firm's Colorado Front Range Housing Market Letter reported that the "...resulting fewer new home sales in each market area have had a signfificant impact on the stability of average & median new home prciing each month. The analysis shows greater than normal swings in a year-over-year comparison."

The Housing Market Letter added the following: In the Denver metro area the average and median new home prices in November declined 12.9% and 7.2%, respectively.

In Larimer County the average price dropped 10.3%, while the median new home price was up 6.4%. And, in Weld County the average and median home prices in November slipped 9.8% and 12.1%, respectively.

Bucking this trend, though, was El Paso County, where the average and median home prices did decline in November, but were off just 2.9% and 2.5%, respectively, from a year ago.

Here are the monthly Denver area average and median new home price points from January 2006 to November 2008 at 6-month intervals.


...........................................AVERAGE PRICE................MEDIAN PRICE

2006.......JANUARY...............$340,300...............................$300,400

...................JUNE.....................$378,100..............................$340,400

2007........JANUARY...............$375,200.............................$317,700

..................JUNE......................$408,700.............................$331,000

2008.........JANUARY..............$407,400.............................$334,200

.................JUNE.......................$422,400.............................$347,800

.................NOVEMBER...........$356,100.............................$322,500

"The table above shows how prices generally increased from January 2006 to June 2008," Laffoon offered. He added that in November 2008 " the average and median new home prices declined to levels last seen in early 2006."

This Colorado area new home sales and pricing analysis was provided by Home Builders Research Colorado and the firms monthly published "Colorado Front Range Housing Market Letter."

For more information about the Colorado new home market sales and trends, and the research services provided by Home Builders Research Colorado, you may contact David Laffoon directly at hbrcolorado@comcast.net, or visit the firm's website at www.hbrcolorado.com.

More information can be found online at http://www.hbrcolorado.com

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