Metro Denver saw home sales increase nine percent from April to May, a good sign for the local real estate market. Even better, prices were up slightly, and inventory held steady from month to month. However, the time a property is on the market is what caused the most concern for May 2011’s housing numbers.
The median sales price for single-family metro Denver homes for the month was $230,000, up four percent from April and about the same as a year ago. 19,573 homes and condos were on the market last month, even with April and down 11 percent from the same month last year.
While it is still difficult to directly compare 2010 and 2011 numbers so far this year due to the tax incentive that ended last April, these statistics looking promising for the Denver housing market. I will continue to post about the latest real estate figures and keep you updated on how our local economy is affected.
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