There are a number of positive continued signs in this months report: August 2011 combined MLS Residential Statistics had the following changes compared to August of 2010.
One thing to take note of is the absorption rate: under 6 months of house inventory means that it is a SELLER's market - there is more demand than supply. This is very interesting, because the doom and gloom national real estate news is obviously not what is happening in the Metro Denver real estate market.
- The Number of Closed Sales had a significant increase (up 28.4%, to 3,177)
- Average Days on Market increased slightly to 96 days
- Number of Active Listings decreased 24% to 13,436
- Absorption Rate declined a whopping 39% to 4.4 months
- Average Sold Price decreased slightly from $295,516 to $284,065