Denver Market Update for February, 2009
● Metro Denver Prices:
Single Family Average Price: Feb 2009 - $236,920
(Detached Dwelling) Jan 2009 - $230,878
Feb 2008 - $278,871
Condo Average Price: Feb 2009 - $138,239
(Attached Dwelling) Jan 2009 - $148,509
Feb 2008 - $171,817
Combined Average Price: Feb 2009 - $218,010
Jan 2009- $213,330
Feb 2008 - $255,362
● Percent of Sales Price
Change: Single
Family : -15.04%
from Feb 2008 to Feb 2009 Condo : -19.54%
Combined : -14.63%
● Total Combined Number Feb 2009 - 20,059
of Homes for Sale: Jan 2009 - 19,748
Feb 2008 - 25,037
● Percent of Change in
Available Inventory: -19.88%
(Feb 2008 vs. Feb 2009)
● Total Homes Under Contract:
Single Family
Condo
Feb 2009 – 3,352 Feb 2009 - 831
Jan 2009 -3,134 Jan 2009- 697
Feb 2008 -4,144 Feb 2008 - 982
● Number of Combined Homes
Sold this month Feb 2009 - 2,484
vs. previous month Jan 2009 - 2,469
vs. same month last year Feb 2008 - 3,001
● Average days on Market: Feb 2009 -107.38
(Combined Sales) Jan 2009- 100.70
Feb 2008 - 113.64
● Absorption Rate: (# of weeks Feb 2009 - 34.99 weeks
necessary to sell current combined Jan 2009 - 34.66
weeks
inventory at current rate of sales) Feb 2008 - 36.15 weeks
● Median Sold Price: Single Family Condo
Feb 2009 -$192,000 Feb 2009 - $117,725
Jan 2009 - $181,500 Jan 2009- $113,000
Feb 2008 -$221,486 Feb 2008- $133,750
