Average Home Price Report - Metro Denver
Updated - September 15, 2011
Monthly Housing Report & Average Home Price
The average home price fell roughly 5% for single family homes in the month of July, but rose by almost 10% for condos. These figures represent a complete reversal that the direction home and condo prices have been heading, respectively, over the last 3 months.
The interesting change in direction of home and condo price averages does not necessarily indicate a new trend, but rather that this is one of those peculiar times where more lower-priced homes sold, in combination with a greater number of higher-priced condos. Any new direction in average prices for either condos or single family homes would only be apparent if there were a continuing pattern, which is too soon to tell.
After watching homes sales rise month after month, that head of steam was lost mid-summer with summer vacations and all. With fresh new figures from last month, however, we again see total homes sales rebounding to the peak levels of early summer, up by a nice margin of 3.6%. August's sales were a mere '100 homes shy' of this year's record!
All in all, the Denver housing market continues to improve and that is encouraging news. The market is also outperforming the level of real estate sales we recorded at this same time last year. You'll find more charts and market trends at Average Home Prices Denver CO.
More updates to come,
Data provided by Metrolist.
Originally posted at: Average Home Price
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