Denver Market Update May 2014

Homes for sale, average sale price for Denver homes and condos, average days on the market, absorption rate and total number of combined sales.

Denver Sales Statistics

May 2014

Metro Denver Prices:

Single Family Average Price: May 2014 – $371,611
(Detached Dwelling) Apr 2014 – $361,098
Ma7 2013 – $334,927
Condo Average Price May 2014 – $230,157
Apr 2014 – $225,305
May. 2013 – $202,543
Combined Average Price May 2014 – $333,478
Apr 2014 – $327,618
Ma7 2013 – $308,537
Percent of Sales Price Change: (from May 2013 to May. 2014)

Single Family +10.67%
Condo +15.88%
Average +8.08%
Total Combined Number of Homes for Sale May 2014 – 5,370
Apr. 2014 – 7,854
May 2013 – 8,214
Percent of Change in Available Inventory:
(May. 2013 vs May 2014)
+10.15%
Number of Combined Homes Sold this Month May 2014 – 5,370
vs. the previous month Apr. 2014 – 4,729
vs. the same month last year: May 2013 – 5,884
Average days on Market – May. 2014 vs May 2013 May 2014 – 31.86
(combined sales) Apr. 2014 – 41.20
May 2013 – 48.40
Absorption Rate: May 2014 – 6.75 weeks
(number of weeks necessary to sell current Apr. 2014 – 7.50 weeks
combined inventory at current rate of sales) May 2013 – 6.28 weeks

Prepared byLarry D. McGee, CRS, CRB The Berkshire Group
From data provided by Metro List, Inc., does not include private or builder sales.