Average home prices on the rise | CraigDailyPress.com

Average home prices on the rise

Amy Hamilton

Homes priced less than $125,000 are becoming more and more difficult to find, said real estate Broker Dan Kawcak with Western United Realty.

“There’s not many in the $100,000 range and they go fast if they’re not overpriced,” Kawcak said. “There’s an awful lot of people that can afford that, but unfortunately they don’t last long.”

Homebuyers are paying an average of $165,000 for a home in the current market, he said.

Homes between $250,000 and $300,000 are staying on the market the longest, Kawcak said.

Dave Dodge, owner of Home Town Homes Inc., said homes priced between $125,000 and $200,000 have been hot sellers in the current market.

Dodge said his business, which offers manufactured homes, helps people looking for low-priced housing that is in good condition. He said most homes offered for less than $125,000 need fixing up.

Home Town Homes offers new homes.

“Right now, you’ve got a steal if you can find a house for $125,000 that’s clean,” he said.

Home Town Homes advertises manufactured housing for between $116,000 for a three-bedroom unit and $160,000 for a five-bedroom home.

Dodge said homes in the $200,000 range seem to be the hottest sellers for his business.

“That’s where our market is positive,” he said.

The median price for a home in Colorado is $200,466, according to 2005 estimates provided by the Census Bureau. Those prices are the seventh highest of any state in the nation behind Connecticut, New Jersey, District of Columbia, Massachusetts, Hawaii and California.

Colorado prices rose 4.18 percent in 2004 over the 2003, according to an Office of Federal Housing Enterprise Oversight report. Other states saw much sharper increases. For example, prices in Nevada rose more than 30 percent increase in 2004, according to the report.

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