Home sales in Metro Denver are below prior years’ levels. The sales decline has slowed and unsold inventory is shrinking. The region’s count of closed home sales followed a typical seasonal trend and declined between August and September, and the total count of homes sold through the first nine months of the year fell 4.7 percent from total sales in the same months of 2007. The year-to-date decline in sales has slowed, and the count of homes under contract increased 3.2 percent through the first nine months of the year. Specifically, the selling price for Metro Denver single-family homes averaged $277,308 through the first nine months of 2008, and the selling price for condominiums averaged $173,552. Compared to the same months in 2007, Metro Denver single-family home prices are down 12.1 percent and condominium prices are down 4.8 percent.

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