Prices went up 7% from 2009 to 2010. Larger homes had somewhat larger gains, which is a reversal of the trend; the smallest homes had slightly smaller price increases. An increase in distressed sales at the high end will continue to pressure prices. In late 2010 the share of small home sales declined, while larger homes took market share... propping up the average price. Prices in April/May 2011 will likely be close to 2010 results; June 2011 average price will be down 5% to 10% from June 2010.
Showings fell drastically after the expiration of the tax credit on 4/30/2010. Centralized showings reported a 42% drop in showings across all 25 states on 5/1/2010. January 2011 showings were strong. However March 2011 was even better. So we are starting to turn.
Number of homes sold in Denver Metro, has declined since 2005. 2009 had a -16% decline in volume relative to 2008. Volume in 2010 declined a further 10%. Not the impact of the tax credit on the timing of sales in 2010, had a unique effect. 1st Quarter of 2011 volume was down 8% compared to 1st quarter of 2010.
Denise Wambsganss Realtor - Your Castle Real Estate I love to Brainstorm about Real Estate, if you want specific information about your particular neighborhood in the Metro Denver area please give me a call 303-880-8771 firstname.lastname@example.org