Denver Single Family Homes Rise in Value

Home Values Rise in Denver Over Last October

For the entire area that Metrolist ( Denver’s MLS ) covers the average sold price in October was 4.6% higher than in October 2008.  The average sale price of a single family residential was $250,172 in October 2008.  The average sale price of a Denver area home that sold in October 2009 was $261,771.

Inventory of Denver Homes Still Low

Many sellers have decided to remain on the fence when it comes to placing their home on the market. In fact the Denver real estate inventory is half of what it was in October 2007.  In two years our inventory has been cut in half.  If you were to take short sales and foreclosures out of that mix our inventory would be almost 66% less than in October 2007.

Denver Real Estate Sales are Down

The lack of Homes for sale in Denver is the number one reason that the number of sales is down 15.2% YTD compared to last year.  There is incredible pressure on existing homes listed on the market with several offers submitted within days on well priced Denver Properties.

Denver Real Estate For Sale October 2007 to October 2009

This entry was posted on Friday, November 20th, 2009 at 12:53 am and is filed under Buyer Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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