Industry News

Colorado real estate endures cool November

Activity slows markedly around Denver

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The real estate slowdown deepened in Colorado during November as single-family home sales and prices lost more ground, according to statistics released by the Colorado Association of Realtors. There were 5,755 single-family homes sales recorded last month, down 11 percent from approximately 6,466 sales in October. The statewide median home price dropped 8 percent between October and November, falling from $237,097 to $218,750. The Denver metro area saw significant cooling in November, as sales dropped 13 percent from October, to 2,848, and the area's median home price fell 2 percent to $242,599. In the Pike's Peak region, home sales were 10 percent below their October level -- 810 compared with 903 -- while the median home price held steady at $216,107. Despite the overall slowing, the Glenwood Springs area in the northwestern part of the state reported an active November, with sales growing 13 percent from October, to 98, and the median home price rising 12 percent to $345,455....