Prices and sales of existing homes in metro Denver continued to decline in November, according to statistics released today.
The number of homes sold in November dropped 3.2 percent compared with last year. Sales were down 13.7 percent compared with October, according to the report, which is based on data from MetroList, the 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 dropped 4.3 percent to $229,500, compared with last year. The median condo price dropped nearly 11 percent to $139,000 compared with the same period in 2006.
The number of homes on the market declined 6.2 percent to 27,127 compared with October and 1.5 percent compared to the same time last year. The 2007 inventory increased every month through August but has declined each month since.
South Aurora was the most active market, with 254 units sold at an average price of $209,401, according to an analysis of the data by Mike Cox of Re/Max Professionals.
“We are still finding pockets of great activity that are mainly being price driven,” Cox said.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
