June Was A Very Good Month For The Denver Housing Market

By
Real Estate Agent with Kenna Real Estate Company

During the month of June in Denver the housing market saw increases in both the average price  and in the number of sold homes for the 5th month straight while "days on market" decreased.  These are all good signs. 

The average price has increase steadily from $213,330 in January to $258,434 in June.  That is a 21% increase and indicates a reviving market.

                                            Brick Home

The number of sold homes in January stood at 2469.  That number has increased every month since to a current high in June of 4186.  That is a 41% increase!  Quite a bounce!

Other good signs are the under contract numbers which have also increased steadily since January when the number was 3831 to June which had 5664.  Average "days on market" has decrease to 100 from a high of 107 in February. 

Denver Home Sales Statistics

                          January       February       March        April           May          June       

Active                 19,748         20,059       20,628     20,705       20,734      20,853

Under Contract        3831           4183          4826        5183         5343         5664

 Sold                       2469           2484          3206        3390         3628         4186

 Avg DOM                 101              107            106          104         105            100

 Avg Price           213,330       218,010    232,395      233,482   243,022      258,434

% of Orig Price         90%            90%          91%          91%         91%           92%

More houses are selling, at higher prices and in less days.  That is music to sellers ears.

Another bit of good news, the percentage of selling prices to original prices is up to 92%, a 2 point increase since January.  

As we predicted the housing market is improving.  The improvement is steady and some of it is just normal for this time of year.  We are not out of the woods, yet.  The job market being down is probably a damper on the housing market.  However, the $8000 buyer tax credit is helping.  Since we will have the tax credit around until November, that factor will continue to help home sales.  How the job market improves or gets worse will also have an effect on them. 

Highlands Ranch Statistics

                                 Jan              Feb             March             April             May                 June

HOMES                  

Active                         570              611             667                692             714                  717

 

Under  Contract           121              135             186                156             204                  203

 

Sold                            53                57             121                136              135                 172

 

 Ave. Price             368,011       307,185       349,459          325,073       349,744          368,011

 

% of Original Price 

                                 91%            93%            91%               95%            94%               94%

 

CONDOS 

Active                          113             120            120                143            139                 133

 

Under Contract               18               17              25                 19              36                  45

 

Sold                               14              13              13                  14             29                   28

 

Ave. Price                235,534       251,730        225,842        235,658      274,552          240,788

 

% of Original Price

                                    92%            94%              90%             91%           92%               94%

 

 

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