Dec 10, 2011

 

December 2011 Denver Housing Report

The number of homes sold around the Denver area "fell" last month, but that's pretty typical for the Fall and Winter months. 

We didn't see as much of a decline in single-family homes sales, as compared to condos.  Single-family sales remained about the same as the previous month.  For the condo market, sales were off about 15%, which brought combined home sales down by 3.6%, which is still very typical this time of the year.

Denver's average home price rose 2.4% after declining for 3-months running, which is likely the result of more higher-end home sales last month.  Prices for condos ran out of steam and dropped about 4.5%.  This was somewhat surprising, because the condo market has actually been outperforming single-family homes sales over the past quarter.  

In the coming months it will be interesting to watch how prices adjust to our extremely low levels of inventory.  I'd anticipate that prices will either hold steady or rise, due to the continuing decline in inventory across the board (see related article, below). 

If banks and individual home sellers rush to put their homes on the market in January and February ahead of the spring market, prices may do the opposite though.  Any dramatic change in inventory will certainly affect prices.  See the most recent "list-to-sold price ratio chart" (further below, which is at 97% and climbing.  This is good news for home sellers!

More updates to come soon,

RELATED ARTICLES:
Declining Listing Inventory
The Hottest Price Range In Denver
Which Home Style Sells Faster

 

 

Average Home Price & Solds Graphs

 

 

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

 

 

Check Out Today's Interest Rates

Today's Interest Rates

 

Get It Monthly - Average Home Price & Trends!

We subscribe to a variety of data sources that helps us evaluate Denver's average home price and trends report, for our clients.  If you'd like a copy of our Average Home Price & Trends Report for Denver, simply send us the easy form below.

Previously posted at Average Home Price And Trends Report.  Data provided by Metrolist.  Graphs copyright© Michael Dagner Group.  All information deemed accurate, but cannot be guaranteed.  Image attribution - percent - www.sxc.hu

 

For more information about Denver's Average Home Price & Trends Report,
give us a call at (303) 514-4000.