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METRO DENVER REAL ESTATE MARKET UPDATE SEPTEMBER 2012
The Market continues to take us into territory we have not seen in decades, and some cases ever! Here is the latest data on the Metro Denver Real Estate Market through August 2012! You will notice that the graphs (shown at bottom) have begun their fairly straight line as the Spring and Summer volume has cleared and we are settling into the Fall Market! Most notably, Listing Inventory is down approximately 33%, with Under Contracts up 24% and Sold/Closed Volume up 17%, all compared to one year ago. These factors have converged to cause Single Family Denver median home prices to go up 9% and condo/townhome prices up 12%. Prices have increased in 6 of the last 7 months!
The inventory of available homes for sale was 10,826 homes at month end, 5,196 homes were placed under contract, and 4,685 homes closed for a closed dollar volume of $1.3 Billion. The peak Denver home selling/home buying season is over and now the market adjusts to the Fall season. Traditionally, this means fewer transactions, but there’s still a lot of activity.
Monthly Market Recap:
Single Family: Condos:
Active Inventory is 9,060 homes ... more
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