Denver Metro Area Market Stats for May 2009

It’s time to take another look at how the Denver market is doing month to month. I have kept hearing that Denver is no longer a buyer market – there are at least 3-4 offers on a property, some higher than asking price. Headed for the turnaround!

Residential (excluding condos)

There were 15,669 Active listings in the MLS (Multiple Listing Service) for the month of May 2009. That number is up 0.19% from April ‘09, yet down -22.76% from a year ago – May ’08.

4,301 went Under Contract, which is up 3.56% from April ‘09, yet still down -15.93% from a year ago – May ’08.

There were 2,857 Sold properties. That number is up 5.58% from April ‘09, yet down -23.14% from a year ago.

What does this all mean? It means that more properties are being put on the market, are going under contract, and are selling in the first part of 2009, yet overall market activity is still down from this time in 2008.

The Avg DOM (average number of Days on the Market) was 104 days. This number is slightly up 1.96% from April ’09 and up 5.05% from a year ago. This means that properties are spending a bit more time sitting on the market. On average it is taking nearly 4 months, from initial listing to Under Contract status.

Finally, the Avg Sold Price was $262,066, which is an increase of 3% from a month ago in April ’09, yet is down -5.18% from a year ago. Prices are indeed increasing in 2009 yet the recovery is still on its way!

Keep in mind this is for the entire Denver Metro Area. If you would like more information about a specific neighborhood, please contact me by email with the area you are interested in! Thanks!

All data was compiled from Metrolist, Inc on June 16, 2009

Andrew Cepeda

Realtor® and EcoBroker®

Metro Premiere Properties

720.216.7617

andrewcepeda@gmail.com