Denver December Real Estate Stats

Denver Home Market Trends – December 2012

 

Denver Home Market Update
December, 2012
Market Overview:
By the numbers, there are 7,706 homes available for sale at December month end, 2,684 homes came
onto the market, 3,090 homes were placed under contract, and 3,400 homes closed in December for a
closed dollar volume of $986 Million.

Monthly Market Recap – December, 2012:
Single Family:                                                                                 Condos:
Active Inventory is 6,366 units at month end                                Active Inventory is 1,340 units at month end
Sold units is 2,725                                                                 Sold units is 675
Average Days on Market is 75                                                     Average Days on Market is 67
Median Sold Price is $255,000                                                   Median Sold Price is $142,000
Average Sold Price is $315,451                                             Average Sold Price is $186,877

December Year-to-Date Market Recap (2012 versus 2011):
Single Family:                                                                              Condos:
Active Inventory 6,366 versus 8,854 (↓28%)                                 Active Inventory 1,340 versus 2,139 (↓37%)
Sold Units 37,164 versus 31,437 (↑18%)                            Sold Units 9,135 versus 7,950 (↑15%)
Median Price $250,000 vs $230,000 (↑9%)                               Median Price $142,000 vs $124,900 (↑14%)
Average Price $304,178 vs $279,858 (↑9%)                              Average Price $179,616 vs $159,141(↑13%)
Sales Volume $11.3B versus $8.8B (↑28%)                               Sales Volume $1.6B versus $1.3B (↑30%)
Days on Market 77 versus 105 (↓27%)                                    Days on Market 77 versus 116 (↓34%)

Market Narrative:
December activity showed seasonal slowdown from prior months.
Average and Median pricing returned to pre-recession numbers.
Inventory of homes available continued to decline.
Buyer demand continues through the year end and into 2013.
On a Year to Date basis, 2012 was a great year for the Denver market.

Overall, the Denver market has a two month supply of homes available for sale at the current sales
rate. Single Family Residential homes have a 2.06 month supply and Condos have a 1.76 month supply.

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