Denver Home Sale Statistics
The Berkshire Group maintains monthly statistics on the sales of single family homes, condos and town homes. Inventory has increased by 22.1% from same time last year. Year to date we have sold more homes this year than last. Currently the absorption rate is 26.34 weeks for the Denver market overall.
If you are interested in knowing statistics for a specific neighborhood and market, please call The Berkshire Group Realtors
May 2006
Metro Denver Prices:
| Single Family Average Price: (Detached Dwelling) | May 2006 | $315,257 | |
| Apr 2006 | $318,949 | ||
| May 2005 | $305,730 | ||
| Condo Average Price: (Attached Dwelling) | May 2006 | $189,986 | |
| Apr 2006 | $188,146 | ||
| May 2005 | $195,567 | ||
| Combined Average Price: | May 2006 | $287,327 | |
| Apr 2006 | $288,621 | ||
| May 2005 | $281,062 | ||
| Percent of Sales Price Change: from May 2005 to May 2006 | Single Family: | +3.12% | |
| Condo: | -2.85% | ||
| Combined | +2.23% | ||
| Total Combined Number of Homes for Sale: | May 2006 | 30,457 | |
| Apr 2006 | 29,045 | ||
| May 2005 | 24,945 | ||
| Percent of Change in Available Inventory: (May 2005 vs. May 2006) | +22.10% | ||
| Number of Combined Homes Sold this month | May 2006 | 5,010 | |
| vs. previous month | Apr 2006 | 4,300 | |
| vs. same month last year | May 2005 | 4,631 | |
| Average days on Market: (Combined Sales) | May 2006 | 96.58 | |
| Apr 2006 | 102.78 | ||
| May 2005 | 82.27 | ||
| Absorption Rate: (number of weeks necessary to sell current combined inventory at current rate of sales) | May 2006 | 26.34 weeks | |
| Apr 2006 | 29.27 weeks | ||
| May 2005 | 23.34 weeks | ||
| Median Sold Price:Single Family | May 2006 | $250,943 | |
| Apr 2006 | $250,000 | ||
| May 2005 | $244,000 | ||
| Condo | May 2006 | $160,000 | |
| Apr 2006 | $157,400 | ||
| May 2005 | $159,500 |
Denver fix and flips
The U.S. Department of Housing and Urban Development has tightened regulations that will effect Denver fix n flippers and actually investors who practice "flipping" in any area.
New rules require the owner must own the property at least 90 days prior to being able to resell it with an FHA loan.
The rule goes into effect July 9, 2006.
As always there are a few exceptions: HUD itself, Fannie Mae, Freddie Mac, lenders selling real estate owned properties (REOs), local or state housing agencies, nonprofits with HUD permission to purchase discounted real estate-owned properties, inherited properties and dwelling located in presidentially declared disaster areas.
Participate in making History
Every once in awhile an opportunity to be part of history comes along. Once before DIA opened they had an open house for the public. At that time I went with my daughter, Vali and we Rollerbladed on the runways at DIA. Everytime I fly in and out of Denver I fondly remember that very fun day!
Today the opportunity to help a landmark move to a new location arises. Everyone knows and loves "The Tattered Cover" bookstore. It’s flagship store in Cherry Creek is moving to a slightly blighted but soon to be awesome location on the longest street in the country, Colfax.
If you want to tell your Grandkids you helped move a billion books for the Tattled Cover, here’s your chance. [click here to read the article in the Denver Business Journal]
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