GREATER METROPOLITAN DENVER HOME MARKET STATISTICAL NARRATIVE
JULY, 2011

In June, it was the first month in 2011 where the closings exceeded $1.0 Billion. Now in July, 3,835 units closed at an average price of $270,066 which resulted in $1.04 Billion of sales volume.

On a Monthly basis, comparison of month over month and year over year:

Single Family takeaways:

The inventory of unsold homes is at 19,103 units, down 2% with June’ 11 level and down 20% from July’ 10.
4,250 units were placed under contract in July, down 11% with June’ 11 and up 12% from July , 10.
3,835 units sold in July’ 11, down 6% from June’ 11 and up 18% from July’ 10.
Single Family average prices, $270,066 for July’ 11, increased 1% month over month and was even year over year.
Residential and Condo takeaways:
Residential average price, $298,654 for July’ 11, increased 2% month over month and was even year over year.
Condo average price, $153,058 for July’ 11, decreased 3% month over month and 1% year over year.
Condo median prices decreased 2% to $123,150 in July’ 11 when compared to June’ 11 and decrease  5% from $129,000 in July’ 10.
Residential median prices decreased 1% to $237,000 in July’ 11 when compared to both June’ 11 and July ’10.
On a Year to Date basis, comparison of YTD  7/2011 to YTD  7/2010:
Residential:

Sales units 18,169 vs 19,138 (-5%)

Median Price $228,500 vs $230,000 (-1%)

Average Price $281,597 vs. $279,800 (+1%)

Sales Volume $5.1B vs.$5.4B (-5%)

Days on Market 109 vs. 83 (+31%)

Condo:

Sales Units 4,501 vs. 5,111 (-12%)

Median Price $122,165 vs. $135,000 (-10%)

Average Price $156,921 vs. $161,055 (-3%)

Sales Volume $0.7B vs.$0.8B (-14%)

Days on Market 121 vs. 88 (+38%)

Above representation mayor may not reflect all real estate activity in the market. By definition, Single Family equals Residential plus Condo.
©2011 Garold D Bauer, All Rights Reserved, Information Deemed Reliable But Not Guaranteed