June 2009 Denver Real Estate Market Statistics
July 6th, 2009 Categories: Market Trends, Real Estate News
In a real estate market the size of Denver’s, you might be surprised to learn that we only added 119 new listings to our inventory since last month’s real estate statistics were released. We added 121 new single family listings and we sold 2 more condominium listings than were added.
Our average days on the market has been reduced by 5 and our average sale price rose by $15,412. The single family residence average price rose $21,246, but the condominium average price fell by a whopping $10,515. That’s curious to me. With the number of condo listings dropping, you would assume that the resulting demand would drive prices up. It’s probably just a reflection of the basket of properties that happened to sell last month.
Our local real estate market is strengthening day by day. Why?
Denver’s employment is relatively stable, and in some sectors is growing. While we’re certainly having budget struggles at the local and state level, we’re not bankrupt. Many people from other states (California) are moving here to benefit from our fabulous lifestyle, great schools and more stable economy. California (my home state) has more out-migration than in-migration right now. Colorado is the opposite.
When you compare our market statistics year over year, we’re certainly down quite a bit from last year. And our average sale price is down by nearly $45,000 from the high set in 2006. But given the circumstance of the world, the events that have shaped our economy since last fall, we’ll take it!
Searching for a Denver home? Contact me for the latest update on specific Denver neighborhoods.
Great post, so glad to see other Denver realtors providing accurate and timely market data.
Cheers,
Ryan Penn
Real Estate Consultant
web: http://www.360dwellings.com
Ryan’s last blog post..Forbes Magazine Rates Denver Best City to Buy a Home
In reading this post, I was pleasantly surprised to see that housing prices in Denver are (in my opinion) still so reasonable! I telecommute from home and have been for a few years now, and it looks like Denver might be the change of scenery I’m in search of.
Real Estate Market Statistics is good…Thanks
Boise real estate
I was surprised to see that real estate in Denver is affordable. Some cities have such high rates, that it is out of reach of the common man. I was pleased to see relevant data and figures and though your figures have dipped a little, still you are doing great in the backdrop of the current economic conditions.
oh!,The economy downturn makes the buying homes affordable.Great data to see and I never thought that Dever housing market as so cheap.
U.S. Inspect’s last blog post..The Importance of Inspecting New Houses
Ryan, The market is changing so quickly that sometimes it’s hard to stay abreast of all of the information - even when you do this every day! Thanks for reading LifeStyle Denver.
U.S. Inspect - if you do move here, we have some fabulous homes for you to inspect!
[…] only added 37 new listings above the total inventory we had in June 2009. That means people, banks, sellers are waiting to put their homes on the market. They’re […]