JAMES REAL ESTATE SERVICES, INC.
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Condominiums show less price appreciation than single-family residences. Here too, the increase
in inventory signals a balance of supply and demand.
MULTILIST SALES
May July 2000
Condominiums/Townhomes
Total Sales
5/00 7/00
12 Month % of
Change
12 Month Market
Share 1999-2000
$50,000 and less
20
-45%
2%
50 to 69,999
194 -35% 8%
70 to 79,999
110 -43% 5%
80 to 89,999
190 -23% 8%
90 to 109,999
507 -15% 18%
110 to 149,999
1178 41% 34%
150 to 199,999
505 43% 14%
200 to 299,999
224 56% 7%
300 to 499,999
80
19%
3%
500,000 plus
42
123% 1%
Sales 5/00 7/00
3,050 -1%
Sales 5/99 7/99
3,075
Median Price YTD 2000
122,500 17%
Median Price YTD 1999
104,900
Average Price 5/00 7/00
145,463
19%
Average Price 5/99 - 7/99
122,084
Average Inventory 5/00 7/00
1,909 7%
Average Inventory 5/99 7/99
1,790
Source: Metrolist, Inc. and Denver Board of Realtors/James Real Estate Services, Inc.
Apartments
Apartments are perhaps the most responsive of investment real estate types to employment levels
and economic conditions. The weak Denver area economy in the late-1980s and apartment overbuilding
resulted in low rents and sale prices, and very high vacancy rates for some market areas.
With the continuing economic recovery conditions have now improved to the point that sale prices
and rental rates are supporting new construction in categories just below the upper tier projects, although
upper tier projects still predominate. The majority of this recent apartment development activity has
occurred in the south suburban areas along the I-25 and C-470 corridors and in the northwest suburbs
along the Denver/Boulder Turnpike.
