Prices and sales of existing homes in metro Denver continued to decline in November, according to statistics released Wednesday.
The number of homes sold in November dropped 3.2 percent compared with last year. It was down 13.7 percent compared with October, according to the report, which is based on data from MetroList, the metro area’s multiple listing service.
“The decline in activity is about 4 percent more than the normal seasonal decline,” said Gary Bauer, an independent real-estate analyst who compiles the monthly report.
The median price of a single-family home was $229,500, a drop of 4.3 percent compared with last year. The median condo price dropped nearly 11 percent to $139,000.
The number of homes on the market was 27,127, a decline of 6.2 percent compared with October and 1.5 percent compared with the same time last year. The 2007 inventory increased every month through August but has declined each month since then.
South Aurora was the most active market, with 254 units sold at an average price of $209,401, according to an analysis by Mike Cox of Re/Max Professionals Inc.
“We are still finding pockets of great activity that are mainly being price-driven,” Cox said.
