Jan 01, 2015

December 2014 Denver Housing Report

Average Home Price - Metro Denver

Updated on December 1, 2014

 

Average Home Price 
& Monthly Housing Report

 

Home inventory dropped to a record low. Last month there were only 8,041 unsold homes on the market in the Denver-area, which marks the fewest listed homes on record for this time of the year.

Normally prices will begin to hold steady or dip as we head into the final months of the year, but prices actually rose last month, slightly, for single family homes. The reason has more to do with the previous month and the large drop in prices, which simply helped prices to rebound somewhat in November.

In the townhome/condo market things are different. Prices dropped by over 7% from the month before. That's not surprising, because last month we saw an unusual spike in condo prices by almost the same 7% amount. Chalk-up the past 2 months as an oddity, and home and condo prices haven't changed all that much since late summer.

Other news is that homes on the market increased about 3 days last month from the month prior. No biggie, but that's consistent with the fewer sales reported for November. Currently the median home price for both condos and single family homes is hovering around $274,000. 

Till next month,

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. 

Average Home Price & Solds Graphs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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