Our Disappering Market

Our Denver real estate market continues to disappear.  October’s numbers show a 28% decrease in available inventory compared to October last year for central Denver (Colfax to Hampden and Quebec to Broadway).  Sadly, prices remain flat at an average of $423,690 compared to $424,518 a year ago.  It appears that buyers are taking their ball and going home as well.

[Denver Business Journal] “Consumers are not putting their Denver homes on the market unless they have a pressing need to sell,” said Gary Bauer of Littleton, an analyst of Metrolist data.

The inventory of listed unsold Denver homes stood at 15,794 in October, down 8 percent from September and 28 percent from October 2010. There were 21,851 homes on the market in October 2010.

“We are moving into new territory with the current level of unsold Denver homes,” Bauer said, noting people aren’t putting homes on the market because of concerns for jobs and the economy.

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