Home sales drop in November

John Rebchook, Rocky Mountain News

Published December 7, 2006 at midnight

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There were 4,139 homes in the Denver area sold by Realtors in November, a 4.9 percent drop from the 4,350 sold a year earlier and a 12.2 percent drop from October, shows a report released today by Coldwell Banker Residential Brokerage.

The report, based on Metrolist data, also showed that the average price of a single-family home sold rose slightly to $310,562 from $309,030 in November 2005 and $306,307 in October. The median, or middle, price of a single-family home dropped to 240,000, compared with $248,250 in November 2005 and $247,600 in October.

The number of unsold homes on the market rose 5.5 percent to 27,530 from 26,020 in November 2005. However, the number of unsold homes on the market fell 8 percent from the 29,722 in October.

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