In past 3 years, the prices of Denver condominiums have been steadily decreasing as with the rest of the country. In 2005, the average listing price of condos has been $189,000 but in 2008 the price have fallen to $171,000 and they still continue to fall, but not as much as the decrease in sing family homes. This is a reason why one should consider this class of real estate.
The number of sales have also been steadily decreasing over the past 3 years, 11,600 condominiums were for sale in 2005 versus 9,800 for sale in 2008 in metro Denver. With the economy in downturn, the foreclosures and short sales have increasing been the largest number of sales for this year. The number of sales of distressed assets have increased to 41 percent of sales in 2008.
Denver condominiums are better option than apartments for many residents. They offer comfort and style for there residents. All of the residents have access to amenities like fitness center, pools, business center, spas, and parking facilities as well as guarded entrance.
There are three types of condos available. Condo lofts are great for singles and students. Luxury condos are great for wealthy individuals that can shell out large amounts of money. They offer luxurious amenities to pamper the wealthy. There is also condo vacation rentals that cater to the travelers who enjoy comfort of home, especially for the skiers that come to Denver.
If you are looking for new home, Denver condos certainly offer convenience and value. With the recent recession and decrease in price of condominiums, increase inventories of unsold condo, increase number of day they are available in market, you will find bargains and deals that will fit your budget.
Make sure you do your due diligence and use a reputable buyers agent if you are looking at luxurious high end condo. Be patient and find the right condo for this is a large investment.
The number of sales have also been steadily decreasing over the past 3 years, 11,600 condominiums were for sale in 2005 versus 9,800 for sale in 2008 in metro Denver. With the economy in downturn, the foreclosures and short sales have increasing been the largest number of sales for this year. The number of sales of distressed assets have increased to 41 percent of sales in 2008.
Denver condominiums are better option than apartments for many residents. They offer comfort and style for there residents. All of the residents have access to amenities like fitness center, pools, business center, spas, and parking facilities as well as guarded entrance.
There are three types of condos available. Condo lofts are great for singles and students. Luxury condos are great for wealthy individuals that can shell out large amounts of money. They offer luxurious amenities to pamper the wealthy. There is also condo vacation rentals that cater to the travelers who enjoy comfort of home, especially for the skiers that come to Denver.
If you are looking for new home, Denver condos certainly offer convenience and value. With the recent recession and decrease in price of condominiums, increase inventories of unsold condo, increase number of day they are available in market, you will find bargains and deals that will fit your budget.
Make sure you do your due diligence and use a reputable buyers agent if you are looking at luxurious high end condo. Be patient and find the right condo for this is a large investment.
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