Denver’s home inventory jumps 6% in November 2015 to 6,954 year-over-year, compared with 6,548 in the same period last year. However, the increase was outpaced by the price appreciation according to the latest data from REcolorado. The average price of a home in metro Denver area increased 12% to $367,992, compared to $324,961 last November. This includes both single-family homes, townhomes and condominiums. Months of home inventory is still well below the national average, with only 2 months of inventory. This metric gauges how long it would take to sell every home on the market at the current pace of sales. A 6 month home inventory is considered a balanced market. However, October’s home inventory numbers were much higher at 8,563 homes available which could be due in part to seasonal showing in the overall residential real estate market and fewer homes coming on the market during the holiday season. The average sale price for a detached single-family house increased slightly from $400,104 in October to $401,005 in November. The average price for condominiums jumped 8% to $263,462 in November from $248,476 in October. Condominium prices are up 18% year-over-year.