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METRO DENVER REAL ESTATE MARKET UPDATE MAY 2013
We are in a unique time when we have almost the same amount of homes go Under Contract that come on the market each month! Wow! But, for the first time in almost a year, the trend line for Inventory is slightly going up instead of down! I believe we will start to see a trend to a more balanced market, but it will take some time to get there. Many homes are selling very quickly with multiple offers, while others sit and don’t get many showings or no contracts! The difference is professional guidance. Let us be your guidance!
By the numbers, the inventory of available homes for sale is 6,945 homes at April month end, 6,892 homes came onto the market, 6,855 homes were placed under contract, and 4,714 homes closed for a closed dollar volume of $1.4 Billion. Prices are up 5% in the Denver Metro area from last month, and 12% from this time last year, putting average Denver home prices at levels not seen since their 2006 peak.
Monthly Market Recap: (See Graphs at End of This Article)
Single Family: Condos:
Active Inventory is 5,662 homes at month end Active Inventory is ... more
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