The Denver Real Estate Market is changing. Median home prices in metro Denver soared in January compared with the same month a year ago, even as sales during the same period declined, according to data released Tuesday.
The median price for a single-family home was $210,000, up nearly 16 percent from $181,500 in January last year, according to an analysis of Metrolist data. The median price for a condo was $130,500, an increase of 15 percent over last year’s January price of $113,000.
The number of homes on the market declined 9.9 percent to 17,785, compared with 19,748 at the same time last year. But inventory was up 8.1 percent from the 16,456 homes listed for sale in December. The number of homes sold in January dropped 4.7 percent to 2,353, compared with 2,469 a year ago. Sales were down 20.5 percent from 2,959 in December. The $8,000 first-time-home buyer tax credit initially was set to expire Nov. 30. Buyers rushing to take advantage of the credit pushed November sales up compared with the same month in the previous year. The tax credit ultimately was extended through April.
