Metro Denver home inventory shortages persist as prices continue to grow

Active listings in metro Denver's housing market declined from August 2015 while prices continued their steep climb, according to the latest report from the Denver Metro Association of Realtors.

Both median and average sales prices for homes, including both detached single-family homes and attached townhomes and condos, increased by about 11 percent year-over-year in August. The average price rose to $404,160, pulled up by an active luxury market, and the median price in the metro area increased to $350,000.

For single family homes alone, the average price increased by 9.8 percent to $448,761, while the median price increased by 9.6 percent to $380,250 in the same period.

Average condo prices were up 13.3 percent in August to $288,744, while median prices rose 13.5 percent to $244,000.

Read more at the Denver Business Journal: http://bizj.us/1o5h78
 
(© 2016 American City Business Journals. All rights reserved.)


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