Denver's housing market is hot! Oh what a difference a few months make. In May, 2012, the average price for a single family home was $307,896, UP 10.18% from May, 2011. Condo prices were UP 12.00% over the same time period.
Inventory for homes is way down: In May, 2011, our market had 17,888 homes for sale. May, 2012, there were only 10,591! That is a -40.79 percent of change in available inventory! Unbelievable, especially with the historic low interest rates.
Average days on market: May, 2011 - 108.93 May, 2012 - 78.56
If you know of anyone who wants to buy or sell in the Denver Metro area, please give me a call!