Here is a quick high-level recap of the May 2010 combined MLS Residential Statistics compared to May of 2009. Even after the expiration of the tax credit, the Denver area market is showing excellent signs:
- Increase in the Number of Closed Sales to 3,416 (up 19.6% for the month)
- Average Days on Market reduced 27.9% to 75 days
- Number of Active Listings increased 4.2% to 16,333
- Absorption Rate dropped to 4.6 months (down 15.3%)
- Average Sold Price remains strong (up 4.3% from $262,066 to $273,285) compared to May, 2009.
These are all very good signs for the market in the Metro Denver area and surrounding cities.
