Denver Sales Statistics May 2007

The Berkshire Group Realtors track Denver real estate trends by keeping records of the various real estate transactions. Here you can see what Denver’s average home price is or the average Denver Condo price. Other important information for home sellers is the "days on market". This figure is based on the Denver absorption rate, assuming no more homes come on the market, it will take this long to absorb the current inventory of homes for sale.

Metro Denver Prices:

Single Family Average Price:	May 2007 $318,904
(Detached Dwelling)	Apr 2007  $322,510
	May 2006  $315,257
Condo Average Price	May 2007 $183,896
(Attached Dwelling)	Apr 2007 $182,549
	May 2006 $189,986
Combined Average Price	May 2007 $288,905
	Apr 2007 $293,016
	May 2006 $287,327

Percent of Sales Price Change: (from May 2006 to May 2007) Single Family 1.16% Condo -3.21% Average 0.55% Total Combined Number of Homes for Sale May 2007 29,110   Apr 2007 27,858   May 2006 30,457     Percent of Change in Available Inventory: -4.42% (May 2006 vs. May 2007)    Number of Combined Homes Sold this Month May 2007 5,081 vs. the previous month Apr 2007 4,399 vs. the same month last year: May 2006 5,010     Average days on Market - May 2007 102.44 (combined sales) Apr 2007 109.90   May 2006 96.58     Absorption Rate: May 2007 24.83 weeks (number of weeks necessary to sell current Apr 2007 27.44 weeks combined inventory at current rate of sales) May 2006 26.34 weeks Median Sold Price: May 2007 $251,155 Single Family Apr 2007 $248,000 May 2006 $250,943 Condo   May 2007 $155,000 Apr 2007 $148,900 May 2006 $160,000

 

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