Denver Real Estate Market Update – November 2004

Metro Denver Prices:

Single Family Average Price:span	Nov. 2004 – $290,366
(Detached Dwelling)	Oct. 2004 – $289,983
	Nov. 2003 – $283,517

Condo Average Price	Nov. 2004 – $182,676
	Oct. 2004 – $185,804
	Nov. 2003 – $175,292

Combined Average Price	Nov. 2004 – $265,795
	Oct. 2004 – $265,834
	Nov. 2003 – $258,532

Percent of Sales Price Change:
(from Nov. 2003 to Nov. 2004)

Single Family	+2.42%
Condo	+2.07%
Average	+2.81%

Total Combined Number of Homes for Sale	Nov. 2004 – 24,533
	Oct. 2004 – 26.030
	Nov. 2003 – 3,396

Percent of Change in Available Inventory: (Nov. 2004 vs Nov. 2003)	+3.02%

Number of Combined Homes Sold this Month	Nov. 2004 – 4,199
vs. the previous month	Oct. 2004 – 5,131
vs. the same month last year:	Nov. 2003 – 3,396

Average days on Market May. 2004 vs May. 2003	Nov. 2004 – 85.06
(combined sales)	Oct. 2004 – 91.96
	Nov. 2003 – 85.46

Absorption Rate:	Nov 2004 – 25.32 weeks
(number of weeks necessary to sell current	Oct. 2004 – 21.98 weeks
combined inventory at current rate of sales)	Nov. 2003 – 30.39 weeks

Prepared byLarry D. McGee, CRS, CRBThe Berkshire Group, REALTORS
From data provided by Metrolist, Inc., does not include private or builder sales.

About the Author

Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog