Nov 30, 2014

November 2014 Denver Housing Report

Average Home Price - Metro Denver

Updated on November 1, 2014

Last months sales for homes and condos in the Denver market settled-in around 4600 units, while the 'average days on the market' increased just slightly to 30.

We're seeing a seasonal decline in sales that's pretty typical for this time of the year, but in saying that, the market still remains pretty active this Fall. Although Denver's market inventory dropped last month to just under 9000 units for sale, the drop in total sales was just enough to "raise" the monthly supply of inventory ever so slightly (see bottom graph, below).

Probably the biggest surprise in the market over the last 30 days was the jump in prices for condos and townhomes.  Condo prices rose nearly 20% from the month prior.  This doesn't mean that prices for multi-family properties has risen across-the-board by that percentage.  It does suggest, however, that more higher-priced units sold last month than the month prior.  At times, odd coincidences happen with these statistics month to month, and that causes the numbers to take some weird dips or jumps.  That's real estate for ya!  

Till next month,

BTW, If you know of someone who needs to sell a home due to an estate, divorce, relocation, or other circumstance, please let me know. Call or email. I look forward to helping those you know, because they trust you and appreciate your referral. 

Stay tuned for more updates.  If you know of someone who needs to sell a home due to an estate, divorce, relocation, or other circumstance, please let me know.  Call or email. I look forward to helping those you know, because they trust you and appreciate your referral. 

Till next month,

Average Home Price & Solds Graphs

Michael Dagner

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