Denver Housing Market Stats – February

Here are some quick market stats from February.  When I have more time I will delve into what they may foreshadow, however, suffice it to say, it’s good news!

• Home sales in February totalled 4,183.  Up 9.2% over January
• Median home price was $192,000.  Up 5.8%
• Median price for Condos was $117,725.  Up 4%
• 53% of all homes sold in Feb. were less than $200,000
• There were 20,059 homes available for sale.  Up 1.6%
• Average Showing per listing was 5.7.  This means the average listing was shown 5.7 times during the month of February.  This was up from 4.9 in January.  (As a point of reference, in 2008 we hovered around 3.5 showings per month)

The last two figures are the most telling about the current state of the market.  The current inventory level is substantially lower than it has been at any time in the past 24 months.  The number of showing per listing is substantially higher than it has been during the same period.

Conclusion,  Less Inventory plus More Buyers equals Better Market.  Stay tuned.