Home-buying hopefuls can still find condos and some townhomes at the $300,000 mark and below in Denver. However, the city’s supply of stand-alone, single-family houses at that price point dried up over the last five years.
Craig Ferraro, adjunct professor in real estate at the University of Colorado, recently perused Zillow, an online real estate marketplace, to search for listings at that coveted price. His findings: “Unless it’s part of an affordable housing program, nothing,” he said in a telephone interview. “Without subsidies from various groups, I’d say it’s extinct.”
The median cost of a single-family house last fell around the $300,000 range in 2014, according to a DMAR update from that year. However, he pointed to one silver lining: Compared to historic interest rates that began soaring in the 1970s until the late 1990s, the current ones are “relatively low.”
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