Lack of Lower-Price Houses
Home Inventory by Price:
Q2 2008 through Q1 2009, Denver metro area
Price Range Avg Sold Price # Sold 12 mo. % of Sales # Active Months of Inventory
Less than $85k $63,500 3,339 10% 231 .2
$85-$135k $110,154 4,965 15% 824 2.0
$135-$210k $171,523 7,945 24% 2,219 3.4
$210-$315k $254,107 8,677 26% 3,053 4.2
$315-$460k $373,152 4,985 15% 2,765 6.7
More than $460k $739,776 3,305 10% 4,516 16.4
Homes priced at $1 million and more had a five-year inventory.
Comments from Lon Welsh at Your Castle Real Estate…
- "This is a really unbalanced market overall."
- The high-end housing category, with its large inventories and motivated sellers, is a “very strong” buyer’s market.
- “The hot price range is $150,000 to $300,000.”