Denver Market Summary

 

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Some highlights from the February 2008 Edition include:

  • Statewide job growth through December finished at 2% - well ahead of the nation’s 1.3% employment gain for the year

  • Early January data for Denver counts 4,550 homes placed under contract – up from 4,292 in January 2007 and bucking the national trend.

  • On the bright side, National Association of Realtors Chief Economist Lawrence Yun says that the Denver market is “past its bottom and is now in the early stages of recovery.” He also expects Denver housing appreciation to be in the 4% or 5% range.

  • Southwest announced plans to add 15 new daily non-stop flights to six new cities starting May 10. Southwest says that Denver ranks as the fastest-growing city in their history.

 YEAR TO DATE (thru October 31, 2008)

*Source: Denver Metrolist

Single Family Homes

2006

 

2007

% Change from 2006

 

2008

% Change from 2007

Average Sales Price

 

$ 317,332

 

$ 313,079

-1.3%

 

$ 274,528

-12.3%

Units Sold

 

33,978

 

33,672

-0.9%

 

33,048

-1.9%

Units Under Contract End Of Period

 

42,741

 

42,900

0.4%

 

44,926

4.7%

Average Days to Sell

 

95

 

102

7.4%

 

100

-2.0%

Active Listings End of Period

 

21,948

 

21,947

0.0%

 

17,842

-18.7%

Expired Listings

 

13,895

 

14,410

3.7%

 

12,920

-10.3%

Condo/Town Homes

2006

 

2007

% Change from 2006

 

2008

% Change from 2007

Average Sales Price

 

$ 188,745

 

$ 180,321

-4.5%

 

$ 172,632

-4.3%

Units Sold

 

11,036

 

10,944

-0.8%

 

8,635

-21.1%

Units Under Contract End Of Period

 

13,108

 

12,869

-1.8%

 

10,798

-16.1%

Average Days to Sell

 

122

 

114

-6.6%

 

109

-4.4%

Active Listings End of Period

 

6,425

 

5,894

-8.3%

 

5,278

-10.5%

Expired Listings

 

7,201

 

6,274

-12.9%

 

3,871

-38.3%

 

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