Home price records, low inventory

By: John Rebchook, Denver Real Estate Watch

Denver area home prices continued to climb to record levels in May, while the inventory of active listings continue to plummet,   shows yet another report.

The median sales price of a home sold last month in the Denver are hit $390,00, up 9.9 percent from $355,000 in May 2015, according to a report released last Friday by the Colorado Association of Realtors.

Earlier reports by the Denver Metro Association of Realtors and REcolorado, showed similar trends, with average and median home prices setting records last month.

The median price of a townhome/condo rose 13.5 percent, year-over-year to a record $245,000, compared to $205,000 in May 2015, according to CAR.

The average sale price last month was an all-time high of $446,710, a 7.8 percent increase from $414,573 in May 2015, CAR reports.

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