Home prices flat in Colorado as inventory drops, housing market report shows

DENVER – If you were searching for a place to buy and call home during the month of November in Colorado, you were probably out of luck.

There were only 15,645 homes listed last month, a drop from the 23,052 listed during the same time period in 2015, numbers from the Colorado Association of Realtors’ (CAR) monthly report show. The number of listed condos also decreased from last year. In 2015, 5,249 condos were listed for the month of November, as compared to the 3,639 listed this year, a 30.7 percent drop.

Despite the shortage, the median price remained about the same at $355,000, which CAR partly attributed to mortgage interest rates that have been creeping up, according to our partners at the Denver Post.

Across the state, sales for a single-family home were at 6,636, down 6.7 percent from the prior month this year. When it came to condos, there were a total of 2,093, down 11.6 percent from October. Interestingly, single-family home sales increased 24.2 percent from November 2015, when 5,344 sales closed, according to the CAR report.

The number of days homes were on the market during the month of November totaled 55, a three-day increase from the previous month. When it came to condos, they remained on the market for a total of 50 days, up two from October.