Denver home sale statistics are getting better every month. Our inventory is shrinking as is “days on market.” The average price is down, but because the brunt of the home sales is on the low end of the market.
These are the days for investors and first time home buyers.
Single Family (Res + Condo)
· Available inventory in Sep 2008 (23,923) is down 3% compared to Aug 2008 and down significantly, 21%, versus Sep 2007
· Sales volume is up 14% (4,265 units) compared with Sep 2007 (3,737 units)
· Year-to-date (YTD) sales volume is down slightly (5%) compared to 2007 YTD sales
Residential (single family detached)
· Active units are down nearly 20% compared with Sep 2007 to 18,496 residential listings
o Available inventory of single family detached units has steadily declined throughout the summer from a high of 26,333 in May 2008 (see Monthly Comparison report available from Market Intelligence, MYmls.com)
· The median sales price was $215,150, down 4% compared to prior month and down 12% versus Sep 2007
· Average DOM was 95 days, down 5% compared to same month year ago
· Sold units are up 15% (3,366) compared to Sep 2007 (2,928 units) and down slightly 2% versus last month (3,581 units)
· Under Contracts for residential listings are up 23% (4,243 units) compared with Sep 2007 (3,453 units)
Condo (single family attached)
· Condo sales experienced positive performance compared to same month year ago
o Sold units up 11% (899) versus Sep 2007 (809 units)
o Average DOM down 3% to 102 days
o Median sales price was $139,900, down slightly (3%) from Sep 2007
· Available inventory fell 26% to 5,427 units in Sep 2008 versus Sep 2007 (7,308 units)
· 1,026 units were under contract as of Sep 30th, up 17% from 876 units in Sep 2007
Stats Credit Denver MetroList
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
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