Metro Denver’s October Real Estate Statistics

The statistics for last month were released yesterday by Denver’s Metrolist. The numbers show the inventory of unsold homes remaining steady in the Denver area. Home resale inventory had a small, but positive 5.5 percent move downward from September to 29,722 homes, still up by 12% from September 2005. The number of homes sold in October was 4,133, close to the same number for the prior month and for the same month in 2005.

The median price of single family detached homes had seen a steady monthly decline from July through September, but saw an increase of $4,100 to $247,600 in October. Condo median prices declined for the third straight month to $152,000 and from the prior month’s median of $156,250.

The average days on the market for a seller’s home continued to hover, as it has in 2006, around the 100-day mark at 103 days.

Summary for October:

Total of all homes:
Inventory 29,722
Homes Sold 4,133
Median Price $280,551
Avg. Days on Market 103


Single family detached homes:
Inventory 21,948
Homes Sold 3,224
Median Price $247,600
Avg. Days on Market 96

Condos (Condominiums and Townhouses)
Inventory 7,774
Homes Sold 909
Median Price $152,000
Avg. Days on Market 126


Source: Metrolist, Inc.