Oct 14, 2011

October 2011 Denver Housing Report

The average home price fell sharply last month, which indicates the Denver area market is running out of steam as we head into a traditional Fall 'slowdown'. Average home prices for both homes and condos declined, too.

In spite of our continuing rock-bottom interest rates, the incentive for buyers to grab onto such ultra-low rates does not appear incentive enough, to keep the market from dipping this time of the year.

As you can see from these graphs, it has been typical for the market to 'peak' around this time each year, and quickly lose steam as we approach the holidays. That said, I'm not ruling out a surprise in the direction of the market over the next month, particularly with our steadily declining listing inventory.

If you'd like some more ideas of the direction the Denver Area real estate market is heading, check out these recent blog posts about what's selling, and what's in short supply. You'll also find more charts and market trends at Average Home Prices Denver CO.

More updates to come soon,

RELATED ARTICLES:
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Data provided by Metrolist.
Originally posted at: Average Home Price

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