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p The highest inventory level of single family homes occurred in July at 17,983 and January 2010 had the lowest at
13,030.
p The average price of a single family home in the Denver Metro Area ending 2010 is $282,080 compared to $264,803
ending 2009 year, equaling a 6.5% increase in price for the mix of properties sold. By comparison, 2006 had a single
family average price in Denver of $317,112.
p The average days on the market for 2010 is 90 compared to 97 one year ago.
p The selling price obtained compared to Original List price is 87%. What this means is that sellers have started their
pricing too high and have met a realistic price to sell. This is the largest spread in sales price vs. original list price in
more than 5 Years.
p The absorption rate for single family homes in the Denver Metro Area with 2010 year-end inventories is 5.43 months.
As the inventory increases so does the absorption rate. For example, July had single family 17,983 units on the market
which would equal to a 7.01 month supply.
p The zero to $250,000 price range had the most single family home sales with 16,476 homes closed in 2010 creating
an absorption rate of 4.9 months of inventory. Below 6 months of inventory typically indicates prices will increase.
p Conversely the $2 million to $3 million price range had a total of 52 homes closed in 2010 creating a current absorption
rate of 40.38 months.
Denver Metro Single Family Homes Closed Per Year 2005 to 2010
p The number of closed single family properties has decreased 25.6% from 2005, Denver high sales peak of 41,365. 2010
recorded 30,777 single family homes closed, which is the lowest level since 2002.
p Above $1 million there were 463 single family homes close in 2010 in the entire Denver Metro area. This represents
1.5% of all the single family sales, where a more robust year would find 3-5% of the sales occurring above $1 million.
Denver Metro Single Family Average Home Price from 2005 to 2010
p The average price reflects the mix of homes sold in any given time period. The increase indicates the buyers have moved
their pricing ceiling 6+% higher in 2010 over 2009.
p As inventory continues to shrink in lower price ranges and interest rates remain competitive, this price should rise in 2011.
Denver Metro Area Condominium Housing
p 8041 condominium homes sold in 2010 compared to 8956 in 2009 or a 10.22% decrease in the number of condo’s
closed year over year.
p At Year End 2010 there were 4316 active condo homes for sale compared to 2009 which had 4193.
p The highest inventory level of single family homes occurred in July at 5467 and December of 2010 had the lowest at 4316.
Less building of condo’s and less inventory bodes better for Condo sales in 2011.
p The average price of a condo home in the Denver Metro Area ending 2010 is $161,005 compared to $159,628 ending
2009 year, equaling a less than 1% increase in price for the mix of properties sold. By comparison, 2005 had a condo
average price in Denver of $189,035.
p The average days on the market for 2010 is 98 compared to 101 one year ago.
p The selling price obtained compared to Original List price is 88%. Foreclosure inventory has created lower sale to list
price numbers.
p The absorption rate for condo homes in the Denver Metro Area with 2010 year-end inventories is 6.44 months. As the
inventory increases so does the absorption rate. For example, July had 5467 condo units on the market which would equal
to a 8.16 month supply.
p The zero to $250,000 price range had the most condo home sales with 6457 homes closed in 2010 creating an absorption
rate of 6.1 months of inventory. Below 6 months of inventory typically indicates prices will increase.
p Conversely the $750, 0000 to $3 million price range had a total of 58 condos closed in 2010 creating a current absorption
rate of 31.45 months. The fewer luxury condo complexes creates’ a more volatile up and down upper end condo market
when it comes to absorption and pricing.
Denver Metro Condo Home Sales Denver Metro Condo Average Price
from 2005 to 2010 from
f 20055 to 2010
p The number of Condo homes closed has decreased p Condo Prices have hit the bottom and will slowly rise
31.51% from the peak of 2005. in 2011.
p The Downtown MLS area, DTD reports the highest p Overall, the price of a condo has dropped 14.83% over
condo price of $394,479 and had 253 units sell in 5 years.
downtown Denver area in 2010. p You can buy an average price condo and have a payment
p The Aurora South MLS area, AUS reports condo closings of under $800 based upon today’s price and interest rates.
of 1225 units in 2010, which is the highest record sale
area in the seven county Denver Metro area.
Overall Denver Housing Market at a Glance
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