Good News for Colorado Mortgage Applicants: Denver Home Prices Drop

It’s a start.

While those seeking a Colorado mortgage still face steep housing prices in the state, the median price of single-family homes in the Denver area fell slightly from a year ago.

The third-quarter report put the median price for the Denver housing market at $253,200 or down 0.1 percent from a year earlier. But the price has still increased from $244,200 in the first quarter.

The National Association of Realtors also said the median price in Boulder was up 2.6 percent from a year ago, while in Colorado Springs the price rose 5.5 percent (to $224,000) during the same period. The price increased from $360,400 in Boulder and from $209,400 in Colorado Springs in the first quarter.

Nationally, the median single-family home price was $224,900, down 1.2 percent from a year earlier when the median was $227,600

The biggest sales increase, meanwhile thanks to those seeking North Carolina mortgages because sales of existing homes in that state - including condos and co-ops as well as single-family homes - increased 9.7 percent from a year ago. Colorado sales were down 8.6 percent from the third quarter of 2005.

The study of apartments, condos and co-ops covered just 57 markets, including Boulder and Colorado Springs. In Boulder, the median price was down 0.3 percent, to $204,900, from a year earlier. In Colorado Springs, the price was up 13.1 percent, to $154,800.