The Health of the Local Housing Market

February 2011

Despite lingering unemployment and governmental budget concerns, the housing market in Denver "is in a pretty good spot right now," says Peter Niederman, CEO of the Kentwood real-estate company, after perusing national S&P/Case-Shiller Home Price Indices. Denver ranks seventh in terms of year-over-year performance, notes InsideRealEstateNews, leaving Niederman optimistic enough to predict this year will be even better, up 3 to 5 percent from 2010. But Denver could still struggle like the rest of the nation, now that the market has reached what seems to be a bottoming-out point and tax credits for homebuyers have expired. Yet buyers are out there, including many people from other states, and some are finding deals on luxury homes.

If you're looking to bargain on the 4,000-square-foot penthouse condo at Park Place in Denver's Riverfront neighborhood, talk to Mark Smith—or his broker. The two-story unit is listed at $3.45 million and claims awesome views from the rooftop deck, writes IREN. If Boulder seems more inviting, $2.3 million could get you the 7,240-square-foot house formerly occupied by the family of JonBenét Ramsey (via the Orange County Register). Tim Milner and Carol Schuller Milner (her father is Crystal Cathedral televangelist Robert H. Schuller) are listed as the owners and have been trying to sell off and on since 2008.