The “median price of $250,000” for a single-family home is right in line with the median price back in 2006.
That year marked a turning point of the real estate market when the bottom dropped out just a couple of years later.
Metro Denver Real Estate Survey Results
Today, the low number of homes on the market, plus a strong demand, are keeping home prices “well ahead of last year,” notes a recent report from Metrolist:
* 4,095 homes sold—a 4% gain from the prior month.
* Single-family residence sales were up 3%
* Condo sales gained 6%
Other remarkable data supporting the increase in activity:
* 29% increase in overall sales versus October 2011
* $278,438 average sales price was 13% ahead of 2011.
* Days on the market: 66 versus 102 days last October.
In October of this year, the number of homes on the market went into a free fall with a 31.3 percent decline…again, that’s a month-on-month comparison to 2011.
“If the number of available homes continues to stay low and total days on the market remains at historic lows, we’re looking at the potential for a very healthy seller’s market closing out 2012,” said Kirby Slunaker, chief executive of Metrolist.
Important to buyers and sellers in the metro Denver market are the right tools to help them make informed decisions.
You can find the resources you need a the WebSavvyRealEstate website, starting with an up-to-date portal to Search Metro Denver Homes For Sale With MLS IDX Real Estate searches.
The WebSavvyRealEstate.com website is full of information that buyers and sellers—and investors—will find useful, from checklists to Buyers and Sellers tips and Steps to follow.
Contact us for an overview on the metro-Denver market.