Friday, November 6, 2009

Denver area - homes sales pick up in October, inventory drops

There were 4,910 homes placed under contract in October - a 9.0% increase from the 4,504 homes sold in October 2008. The average price of all homes sold was $261,771 - an increase of 4.6% from October 2008. The average price, however, is down from $274,433 in September, which reflects the mix of housing prices. The median price of all homes sold, at $222,000, increased by 7.7% from $206,000 in October 2008, but was down 1.33% from $225,000 in September. There were 18,945 unsold homes on the market in October - an 18.1% drop from a year earlier.