JUNE DENVER AREA HOUSING STATISTICS
The housing statistics for June of 2010 were mixed for the Denver Metro area. Although the average sold price of residential single family and condos were up 5.83% to $273,511 from $258,434 a year ago, the total number of sold properties were down. The most significant negative change however, were the under contracts. At the end of June of 2009, there were 5,664 homes under contract. The statistics for June of 2010, showed there were only 3,885 homes and condos under contract - a dramatic drop of 31.41%! That does not bode well for homes sales in July.
What makes these figures even more concerning for the recovery of the housing market, is that interest rates are at all time lows. Right now you can get an FHA 30 year fixed loan, for 4.25%. Fifteen and twenty year loans are even lower, hovering around 3.5%! Stay tuned for more.....Residential - June 2010 - Average Sold Price $299,375 up 5.6% from 2009Condominium - June 2010 - Average Sold Price $171,600 up over 5.9% from 2009