Denver market activity for resale home sales shows signs of continued strength. Sales volume has trended up for several months now. Combined sales volume, for May, including single-family homes, townhomes, condos and lofts was up 7.02%, 3,628 properties, from April’s 3,390 volume. Per Metrolist Inc, sales are still down 22.21% from May of 2008.
5,343 homes went under under contract last month. This includes 4,301 single-family homes and 1,042 condos and townhouses. This is an increase of 3.09% from April and down 15.7% from year-prior last May. Contracts for Single family homes are up 3.56% while condos and townhomes are up 1.17%.
The Denver MLS, in May, had 20,734 properties for sale, increasing .14% from the prior month, but down 21.26% from the same time last year. The average home sales price of $243,022 was an increase of 4.09% from last months average price $233,482, down 5.05% from a year ago, $255,944. Denver homes remained on the market on average 105 days in May which is up 2.21% in April and up year over year at 5.26%.
Single family home sales of 2,857 last month was up nearly 5.58% from April but down 23.14% year-prior May. Houses sold for an average of $262,066 in May, a 3% increase from the prior month, but a 5.18% decrease over the previous year price of $276,374. Median prices increased from $210,000 to $220,000 but are down from $226,500 last year. These homes also stayed on the market up 1.96% for the same period, 104 on average, as the prior month but were down 5.05% from May 2008.
Denver townhouses, condos, and lofts sales were 771 units, a 12.72% increase from April but a 18.59% drop from May, the year prior. The average sales price was $172,454, up 14.54% from the prior month, but decreasing 1.88% the year over year period price $175,758. The median prices increased to $137,000 from last months $130,000. These properties stayed on the market 110 days, same as April and down 5.77% same time last year.
The bulk of the market activity for single family home sales was less than $200,000 at 42.96%, 28.28% between $200,000 and $300,000, dropping to 20.93% between $300,000 and $499,999 and only 7.84% for $500,000 and up.
For condos market activity was 74.55% for properties less than $200,000, 15.30% for properties between $200,000 and $300,000, 7.33% for the $300,000 to $400,000 range and only 2.83% for properties greater than $500,000.
This data is based upon information from Metrolist, Inc. in Greenwood Village, CO. This representation is based in whole or in part on data supplied by Metrolist, Inc.. Metrolist Inc. does not guarantee nor is in any way responsible for its accuracy. Data maintained by Metrolist, Inc. may not reflect all real estate activity in the market.
