Jim Renshaw

Trend – Increase in average residential sold price

The average sale price has been slowly increasing in the overall Denver real estate market. September of 2009 was the first month that reversed the downward trend of decreasing sales price and since then we have had 4 straight months of increases in average sale price over the same period in 2008.  December of this year posted a 17% increase in average sold price over the same time last year.  I think this trend will continue and we will see a steady increase in average sold price for most of 2010. I believe this is being fueled by a very low supply of homes on the market.

Average Home Prices for Denver Colorado

In December of 2009 there where a total of 12,263 single family homes on the market.  This is 5,846 fewer homes on the market than in December of 2006.  In the greater Denver metro area we usually see a bell shaped graph with fewer listing at the beginning and end of the year but 2009 was flat. September of 2009 started a trend of decreasing inventory and in my opinion could fuel home appreciation for this year.

Trend – Decrease in residential inventory levels

What do you think?  Click Here to add your comments and lets have a discussion!

Based on Information from Metrolist, Inc. for the period Jan 2008 through present.Metrolist, Inc. Note: This representation is based in whole or in part on data supplied by 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.