May 2011 Metro Denver Monthly Market Trends

Summer is in full swing!  Below are the May market trends for the Metro Denver Area.  Sales were down versus May last year by 16.54%, however, under contracts were up 23.02%.  The under contracts being up in May could be a good sign for the June numbers if they in fact close.  We’ll see what happens at the end of the month.  Average days on market was up once again by 43.42% from last year.  We continue to see the steep declines (increase in the case of days on market) compared to last year’s numbers because of the home buyer tax credits that were in place this time last year.

Where are the opportunities in the current market? They haven’t changed….buying.  Interest rates continue to be low, even for Jumbo loans over $417K.  The rental market is very strong.  If you have been thinking about buying rental property now is a very good time.  If you’d like to investigate the potential opportunities in depth please let me know.

As always, I’m here to help with your real estate related questions/needs or if you want specific information on your neighborhood don’t hesitate to contact me.  Or, you can visit www.MyMetroDenverHomeValue.com to request your free market analysis.  Your referrals of people you know needing help buying or selling a home keep our business growing and are much appreciated.  They will be treated with exceptional service and support.  Have a great month ahead.

	May 2011	% Change vs. Prior Month	% Change vs. Year Ago
Single Family (Residential + Condo)
Active	17,888	.23	-16.54
Pending	1,685	-1.23	189.02
Under Contract	4,777	.59	23.02
Sold	3,732	8.84	-14.50
Avg DOM	109	-2.68	43.42
Avg Sold Price	$257,177	3.29	3.65
Residential
Active	13,958	.61	-14.54
Pending	1,341	-1.69	172.56
Under Contract	3,858	-.52	22.91
Sold	3,036	11.01	-11.12
Avg DOM	108	-.92	44
Avg Sold Price	$279,443	2.75	2.25
Condominium
Active	3,930	-1.08	-22.94
Pending	344	.58	278.02
Under Contract	919	5.51	23.52
Sold	696	.29	-26.66
Avg DOM	113	-8.13	43.04
Avg Sold Price	$160,051	1.02	1.58

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