Sep 01, 2014

August 2014 Denver Housing Report

Average Home Price - Metro Denver

Updated on August 1, 2014

Average Home Price -
& Monthly Housing Report

We're seeing a little bit of 'red' in the numbers this month. Although home sales we're up another 9.4% last month, home price appreciation appears to be slowing as we reach mid-year. Prices for single family homes rose only 1/2 a percent last month, where average prices for condos actually fell by about 2.2%.

Do these August numbers suggest anything other than a mid-summer break for everyone to catch-their-breaths?  It's been a blockbuster year in sales activity and price increases in the Denver Metro market, so this is a welcome pause.

Home buyers ought to be excited to hear that we're finally climbing-out of the basement with our inventory levels. Homes placed on the market over the past 30 days allowed our inventory level to exceed 9000 units, while sales stayed below 6000 units. That's a huge increase in market inventory, which we haven't seen in some time now.

Nine-thousand units is nothing to brag about though, because it's still way-short of what we actually need to reach for a balanced market.  A healthy and balanced housing market would require at least 20,000 units of inventory at our current absorption or sales pace, so we still have a way to go.

Stay tuned for more updates.  Till next month,

P.S. If you know of someone who needs to sell a home due to an estate, divorce, relocation, or other life change, please don't be shy and let me know. Either call or email me. I'm always delighted to help home buyers or sellers who you know, because they trust you and appreciate the recommendation. Thanks!

Average Home Price & Solds Graphs

Average Home Price, Inventory, & Days-On-The-Market Graph

Michael Dagner

Michael Dagner is a real estate professional in Denver, Colorado.