Friday, September 10, 2010

August Denver-metro home statistics

3,079 home sales closed in the metro area in August 2010

23,615 homes in inventory

6.4 Months of inventory, meaning we are in a buyer's market

- Prices have remained fairly stable. The median price for homes sold in August was $239,900, compared with $240,000 in July and $227,000 in August 2009.

- The median price of condos sold rose to $130,000 in August from $129,000 in July but is down from a median sales price of $144,500 a year ago.
Sales have slowed down alot since the tax credit expired, but that is just making seller's more desperate to sell, and giving buyers more leverage to buy, especially at 4% interest rates, which will save you about $25,000 over the life of the loan... much more than $8,000.
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