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.
December 2008
Metro Denver Prices:
| Single Family Average Price: (Detached Dwelling) | December 2008 | $240,945 | |
| November 2008 | $242,557 | ||
| December 2007 | $287,874 | ||
| Condo Average Price: (Attached Dwelling) | December 2008 | $162,770 | |
| November 2008 | $161,615 | ||
| December 2007 | $177,805 | ||
| Combined Average Price: | December 2008 | $225,257 | |
| November 2008 | $226,895 | ||
| December 2007 | $261,716 | ||
| Percent of Sales Price Change: from December 2007 to December 2008 |
Single Family: | -16.30% | |
| Condo: | -8.46% | ||
| Combined | -13.93% | ||
| Total Combined Number of Homes for Sale: | December 2008 | 19,600 | |
| November 2008 | 21,761 | ||
| December 2007 | 24,603 | ||
| Percent of Change in Available Inventory: (December 2007 vs. December 2008) | -20.33% | ||
| Number of Combined Homes Sold this month | December 2008 | 3,234 | |
| vs. previous month | November 2008 | 2,920 | |
| vs. same month last year | December 2007 | 3,219 | |
| Average days on Market: (Combined Sales) | December 2008 | 99.20 | |
| November 2008 | 93.77 | ||
| December 2007 | 107.14 | ||
| Absorption Rate: (number of weeks necessary to sell current combined inventory at current rate of sales) | December 2008 | 26.26 weeks | |
| November 2008 | 32.29 weeks | ||
| December 2007 | 33.12 weeks | ||
| Median Sold Price:Single Family | December 2008 | $196,000 | |
| November 2008 | $195,000 | ||
| December 2007 | $220,000 | ||
| Condo | December 2008 | $125,000 | |
| November 2008 | $130,000 | ||
| December 2007 | $140,000 |
