Denver Market Update

The Denver market activity I would say leads one to be cautiously optimistic. 

Home sales are up 12% from this time last year with 3,386 homes sold in October at an average sales price of $250,172.  This reflects a 13% reduced sales price from last year likely affected by the number of foreclosures being sold in this market. 

With average days on market at 93 and an inventory reduced by 20%, from 28,928 to 23,120, I believe we are well positioned to move into 2009 ready for an improved market with increased sales activity.

An improved consumer confidence, the passage of the elections, the holidays and the New Year should all contribute towards improving our Denver real estate market conditions.

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