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METRO DENVER REAL ESTATE MARKET UPDATE - MAY 2012
Wow! What a spring we are having! The Market continues to give signs of hope and prosperity! We are still amazed at the lack of inventory as Single Family Homes stayed at 8,353 number of units currently active, and Condo’s/Townhomes at 1,901. This is a very unique time in the Metro Denver Real Estate Market, as we see unbelievably low inventory and the number of under contracts and closings continues to rise! Price pressure continues to build and we are already seeing median price increase s versus a year ago of 5% for SF homes and 7% for townhomes and condos.
With April, the preview month of the prime home selling/buying season, now behind us, what an amazing home market we are seeing. The inventory of homes for sale remains low but relatively stable at 10,254 homes available on the market. This limited inventory comes as more buyers are shopping for homes, driving prices up, and multiple offers are becoming the norm. We are starting to see a steady price appreciation. Denver is now considered one of the strongest markets in the country.
Monthly Market Recap:
APRIL, 2012 YTD HOME SALES TRENDS:
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