Metro Denver home sales up 9 percent in May from April

By Aldo Svaldi The Denver Post

Metro Denver home sales rose 9 percent in May from April, with prices up slightly and the inventory of homes for sale holding steady, according to a monthly update from Metrolist.

The time it takes to sell a home or condo, however, is up significantly from a year ago – 43 percent to 109 days.

“Prices aren’t down year over year as much as one would speculate looking at the increase in days on market, and I think that’s due to our low inventory helping to put a floor under prices,” said Gretchen Faber, a broker manager at The Kentwood Company at Cherry Creek.

The median sales price for single-family homes was $230,000, up 4 percent compared to the prior month, and even with May 2010. The median sales price for condos was $132,525, up 9 percent month-over-month and down 2 percent year-over-year.

There were 19,573 homes and condos available for sale at the end of May, on par with April and down 11 percent from a year ago.

The number of homes put under contract is up 1 percent in May from April and up 23 percent from May a year ago. That big drop reflects the passage of an April 30 deadline last year to get a home under contract for a homebuyer tax credit. April 2010 experienced a surge in home sales followed by a drop in May.

Overall sales were down 15 percent in May compared to a year earlier.

Aldo Svaldi: 303-954-1410 or asvaldi@denverpost.com

Advertisements

About dherries
Dave and Sally Herries and The RealtyColorado Team - Real Estate Broker serving the metro-Denver area. Offering properties in urban, sub-urban and rural areas. Our mission statement is "Enriching lives through real estate."

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: