Focusing on month-month changes, Denver has reported its third consecutive
month of positive returns in May, according to the S&P/Case-Shiller Home Price Index. Denver’s home prices increased 1.5 percent from April 2009 to May 2009. According to the Denver Metrolist, the Denver Metro area showed improvements in every statistical category during June 2009.
The average sold price for residential and condominium sales increased 6.3%
The sales volume for residential and condominium sales in the Denver Metro area increased 15.4 %
At the end of June 20,853 Denver homes were for sale. This represents a 5.0 month supply at the current sales pace, which is an improvement from May 2009, when there was a 5.7 month supply.
The number of residential homes and condominiums which were under contract (pending sales) increased 6.0 percent.
The average list price of residential homes and condominiums increased 0.6 percent to $482,482
The percentage of listings sold increased 14.9 percent.
We should remember while many indicators are showing positive signs of life in the Denver Home market. Home prices are still down 17% on average across the metro area, so we have a long way to go before we see sustained home price appreciation.
Posted by: Jeffery McClintock
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