Sales activity of this year in the time period between April and June shows marked gains when compared against the same time frame in 2009.
Residential Single Family Sales in the Denver area rose a little over 34% coming in at 16,481 this year compared to 12,279 in 2009.
Condominium Sales in the Denver area showed improvement of around 28.5% quarter over quarter. In 2009 we saw 3,062 condos successfully close in the second quarter, and in 2010 that number was 3,934.
Land Sales in the Denver area gained a whopping 64.5% in this time period jumping from 217 vacant land sales to 356. This is a significant decrease from the recent years past which is expected during this economic cycle. It could, however, indicate growth in the speculation building market for the near future. This could mean a slight gain in the builders confidence level. Not a huge shift, just a few of the more forward thinking developers dipping their toes in the water.
I have put together a graph that you can look at below. It reflects the above numbers and gives you a visual idea of the growth in the residential, condo and vacant land market in the Denver area.
If Dunn & Company LLC can answer any questions for you about the Denver area real estate market please feel free to contact us. We love Denver, and we love this business so give us a call, or find us on FaceBook
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