JAMES REAL ESTATE SERVICES, INC.
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Realtor's Multilist statistics indicate a strong residential market as strong home resales in the
Denver metro area continue. As a result of continued increases, however, some analysts are worried that
rising home prices may keep companies from locating in the Denver area in the future. Median incomes in
the five county area have risen 35.3% since 1996, but they have been outpaced by home prices, which
have increased over 42.5%. The rising prices make it especially difficult for first time home buyers.
SINGLE FAMILY DETACHED RESIDENCES
Active Listings @ Year End
Sold during the Year
Year
No.
Average
Price
No.
Average
Price
Annual Rate
of Change
Average
Days on Market
1999 6,571 $306,958 35,500 $208,296 12.1%
42
1998 8,063 276,971 35,159 185,785 9.6%
49
1997 8,866 249,318 30,981 169,587 6.4%
56
1996 9,867 237,997 29,527 159,328 6.0%
48
1995
8,647 238,346 27,883 150,318 8.7%
47
1994 7,459 230,011 29,710 138,301 9.6%
43
1993 6,282 196,067 30,763 126,168 9.6%
46
1992 7,922 157,538 27,215 115,154 5.6%
57
1991 8,563 151,705 21,547 109,071 6.1%
75
1990 9,869 140,245 20,476 102,766 (1.1%)
84
1989 11,846 121,696 19,272 103,868 5.0%
84
1988 10,295
NA
16,707 98,937 (3.7%)
92
Source: Metrolist, Inc. and Denver Board of Realtors/James Real Estate Services, Inc.
*Through December 17, 1999
MULTILIST SALES
May July 2000
Single Family Detached Residences
Total Sales 5/00
7/00
12 Month % of
Change
12 Month Market
Share 1999-2000
$50,000 and less
12
61%
0%
50 to 69,999
16
-48%
0%
70 to 79,999
14
-68%
0%
80 to 89,999
27
-70%
1%
90 to 109,999
121 -61% 3%
110 to 149,999
1,523 -37% 20%
150 to 199,999
3,741 18% 34%
200 to 299,999
3,093 29% 26%
300 to 499,999
1,334 43% 12%
500,000 plus
503 33% 4%
Sales 5/00 7/00
10,384
0%
Sales 5/99 7/99
10,348
Median Price YTD 2000
189,900 13%
Median Price YTD 1999
167,500
Average Price 5/00 7/00
240,306 13%
Average Price 5/99 7/99
211,914
Average Inventory 5/00 7/00
8,155 9%
Average Inventory 5/99 7/99
7,479
Source: Metrolist, Inc. and Denver Board of Realtors/James Real Estate Services, Inc.
