Denver condo listings still haven’t reached July 2014 levels
If buying a condo in Denver county feels like a rollercoaster, then good news! It actually looks like a rollercoaster too.
If buying a condo in Denver county feels like a rollercoaster, then good news! It actually looks like a rollercoaster too:
I would not want to ride this rollercoaster.
Above, you can see the seasonal highs and lows in Denver condo sales over the past year and a half. Listings have not gone as high as July 2014, when 917 condos were on the market. But they have exceeded last year’s peak of 726 listings in September.
Does that mean that we’ve hit peak condo? Probably not. Both the median and average condo sale price have risen 10 percent over last year in metro Denver.
Furthermore, the type of condo that everyone cares about, the mythical affordable ones, are only getting more popular.
Sure, there are figures for sales over $750,000, but let's pretend they don't exist so we don't feel bad about ourselves. Also there's not more than 250 sales each year above that amount.
If you’ll excuse me, I’ll be off building a bunch of new condos for everyone. Nah, just kidding.